PNC Financial Services Group Inc. Trims Holdings in HSBC Holdings plc (NYSE:HSBC)

PNC Financial Services Group Inc. trimmed its position in HSBC Holdings plc (NYSE:HSBC) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,983 shares of the financial services provider’s stock after selling 685 shares during the quarter. PNC Financial Services Group Inc.’s holdings in HSBC were worth $2,373,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. FMR LLC raised its position in HSBC by 44.3% during the third quarter. FMR LLC now owns 2,442,205 shares of the financial services provider’s stock valued at $110,363,000 after acquiring an additional 749,759 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in HSBC by 2.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 514,642 shares of the financial services provider’s stock valued at $25,454,000 after acquiring an additional 14,095 shares in the last quarter. Raymond James Financial Inc. purchased a new position in HSBC during the fourth quarter valued at approximately $17,815,000. Bank of New York Mellon Corp raised its position in HSBC by 135.6% during the fourth quarter. Bank of New York Mellon Corp now owns 347,565 shares of the financial services provider’s stock valued at $17,191,000 after acquiring an additional 200,054 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in HSBC by 11.7% during the fourth quarter. QRG Capital Management Inc. now owns 346,661 shares of the financial services provider’s stock valued at $17,146,000 after acquiring an additional 36,219 shares in the last quarter. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

HSBC Trading Up 2.6 %

Shares of HSBC stock opened at $57.08 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96. The company has a market cap of $203.60 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 1.05 and a beta of 0.51. The stock has a 50 day simple moving average of $53.97 and a 200-day simple moving average of $48.71. HSBC Holdings plc has a 1-year low of $38.04 and a 1-year high of $61.88.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.41 by $0.04. HSBC had a return on equity of 12.20% and a net margin of 16.17%. The firm had revenue of $11.56 billion during the quarter, compared to the consensus estimate of $13.79 billion. On average, equities research analysts expect that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 7th will be paid a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 12.61%. The ex-dividend date of this dividend is Friday, March 7th. HSBC’s dividend payout ratio is currently 115.81%.

Analyst Ratings Changes

Several research analysts recently weighed in on HSBC shares. Barclays upgraded HSBC from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft lowered HSBC from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. StockNews.com raised HSBC from a “sell” rating to a “hold” rating in a research note on Tuesday. UBS Group reaffirmed a “neutral” rating on shares of HSBC in a research note on Thursday, March 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating on shares of HSBC in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

HSBC Company 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.