Naviter Wealth LLC Raises Holdings in HSBC Holdings plc (NYSE:HSBC)

Naviter Wealth LLC increased its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 31.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 86,404 shares of the financial services provider’s stock after purchasing an additional 20,856 shares during the period. Naviter Wealth LLC’s holdings in HSBC were worth $3,525,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC lifted its holdings in HSBC by 6.8% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 6,724 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 429 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in HSBC by 317.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,343 shares of the financial services provider’s stock worth $407,000 after purchasing an additional 7,866 shares in the last quarter. BKM Wealth Management LLC raised its holdings in shares of HSBC by 43.8% in the 1st quarter. BKM Wealth Management LLC now owns 12,936 shares of the financial services provider’s stock valued at $509,000 after acquiring an additional 3,941 shares in the last quarter. Optas LLC raised its holdings in shares of HSBC by 10.2% in the 1st quarter. Optas LLC now owns 7,519 shares of the financial services provider’s stock valued at $296,000 after acquiring an additional 699 shares in the last quarter. Finally, Founders Financial Securities LLC purchased a new stake in shares of HSBC in the 1st quarter valued at about $684,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays reaffirmed an “equal weight” rating on shares of HSBC in a report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, HSBC currently has a consensus rating of “Hold” and an average target price of $761.75.

HSBC Price Performance

Shares of HSBC stock traded up $0.28 during trading on Tuesday, hitting $44.09. 849,944 shares of the stock traded hands, compared to its average volume of 1,952,854. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.51. The stock has a market cap of $165.38 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 1.04 and a beta of 0.58. The firm’s fifty day moving average is $43.90 and its 200-day moving average is $41.01. HSBC Holdings plc has a 52 week low of $35.30 and a 52 week high of $45.46.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.70 EPS for the quarter. The firm had revenue of $20.75 billion for the quarter. HSBC had a return on equity of 10.80% and a net margin of 16.13%. Research analysts expect that HSBC Holdings plc will post 6.35 EPS for the current fiscal year.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 10th were given a $0.50 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.54%. HSBC’s dividend payout ratio is currently 34.14%.

HSBC Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.