SVB Wealth LLC Sells 692 Shares of HSBC Holdings plc (NYSE:HSBC)

SVB Wealth LLC trimmed its holdings in HSBC Holdings plc (NYSE:HSBC) by 5.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,867 shares of the financial services provider’s stock after selling 692 shares during the period. SVB Wealth LLC’s holdings in HSBC were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in HSBC. Raymond James & Associates boosted its position in shares of HSBC by 5.2% in the fourth quarter. Raymond James & Associates now owns 339,780 shares of the financial services provider’s stock valued at $13,775,000 after acquiring an additional 16,725 shares during the period. Blue Trust Inc. increased its stake in HSBC by 46.3% in the fourth quarter. Blue Trust Inc. now owns 4,099 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 1,297 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of HSBC by 334.9% during the 4th quarter. Global Retirement Partners LLC now owns 11,664 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 8,982 shares during the last quarter. Caprock Group LLC raised its holdings in shares of HSBC by 18.8% during the 4th quarter. Caprock Group LLC now owns 11,029 shares of the financial services provider’s stock valued at $447,000 after buying an additional 1,747 shares in the last quarter. Finally, Drive Wealth Management LLC boosted its stake in HSBC by 11.0% in the fourth quarter. Drive Wealth Management LLC now owns 5,952 shares of the financial services provider’s stock worth $241,000 after buying an additional 589 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Price Performance

Shares of HSBC stock traded up $0.26 during trading hours on Tuesday, hitting $43.56. 428,930 shares of the company’s stock were exchanged, compared to its average volume of 1,846,324. HSBC Holdings plc has a 12-month low of $35.30 and a 12-month high of $45.46. The company has a market capitalization of $163.39 billion, a PE ratio of 7.47, a PEG ratio of 1.02 and a beta of 0.58. The business’s 50 day simple moving average is $43.75 and its 200-day simple moving average is $41.46. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.70 earnings per share for the quarter. HSBC had a net margin of 16.13% and a return on equity of 10.80%. The business had revenue of $20.75 billion during the quarter. On average, equities research analysts anticipate that HSBC Holdings plc will post 6.4 earnings per share for the current year.

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.