Summit Global Investments Makes New Investment in HSBC Holdings plc (NYSE:HSBC)

Summit Global Investments purchased a new position in shares of HSBC Holdings plc (NYSE:HSBC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,540 shares of the financial services provider’s stock, valued at approximately $1,560,000.

Other hedge funds also recently bought and sold shares of the company. Berbice Capital Management LLC purchased a new stake in shares of HSBC in the fourth quarter valued at $25,000. Venturi Wealth Management LLC grew its position in shares of HSBC by 58.2% in the fourth quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 210 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of HSBC in the fourth quarter valued at $30,000. Larson Financial Group LLC grew its position in shares of HSBC by 138.5% in the third quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 450 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of HSBC in the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Wall Street Analysts Forecast Growth

HSBC has been the subject of a number of recent analyst reports. UBS Group reaffirmed a “neutral” rating on shares of HSBC in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft cut HSBC from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating on shares of HSBC in a report on Monday, February 3rd. Barclays upgraded HSBC from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. Finally, StockNews.com upgraded HSBC from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

HSBC Price Performance

Shares of HSBC stock opened at $57.87 on Friday. The business’s fifty day moving average price is $54.86 and its 200 day moving average price is $49.23. The stock has a market capitalization of $206.08 billion, a P/E ratio of 9.33, a PEG ratio of 1.05 and a beta of 0.51. HSBC Holdings plc has a twelve month low of $38.94 and a twelve month high of $61.88. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69.

HSBC (NYSE:HSBC) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.04. The company had revenue of $11.56 billion for the quarter, compared to analysts’ expectations of $13.79 billion. HSBC had a return on equity of 12.20% and a net margin of 16.17%. As a group, research analysts anticipate that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 7th will be paid a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 12.44%. The ex-dividend date is Friday, March 7th. HSBC’s dividend payout ratio is presently 115.81%.

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.