SYM FINANCIAL Corp Cuts Position in HSBC Holdings plc $HSBC

SYM FINANCIAL Corp lessened its stake in HSBC Holdings plc (NYSE:HSBC) by 8.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,519 shares of the financial services provider’s stock after selling 497 shares during the quarter. SYM FINANCIAL Corp’s holdings in HSBC were worth $336,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HSBC. GAMMA Investing LLC increased its holdings in shares of HSBC by 24.7% in the 1st quarter. GAMMA Investing LLC now owns 9,739 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 1,929 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in HSBC by 6.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,391 shares of the financial services provider’s stock valued at $1,688,000 after acquiring an additional 1,897 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in HSBC by 8.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,735 shares of the financial services provider’s stock valued at $674,000 after acquiring an additional 959 shares in the last quarter. Spire Wealth Management increased its holdings in HSBC by 59.4% during the 1st quarter. Spire Wealth Management now owns 1,320 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 492 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in HSBC by 51.0% during the 1st quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. BNP Paribas upgraded shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. Jefferies Financial Group restated a “hold” rating on shares of HSBC in a report on Friday, October 10th. BNP Paribas Exane upgraded shares of HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. Citigroup restated a “buy” rating on shares of HSBC in a report on Tuesday, October 21st. Finally, Zacks Research downgraded shares of HSBC from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.00.

HSBC Trading Up 0.3%

Shares of HSBC stock opened at $67.17 on Tuesday. The stock has a market cap of $231.78 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.76 and a beta of 0.62. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. HSBC Holdings plc has a fifty-two week low of $44.40 and a fifty-two week high of $72.21. The firm’s 50 day moving average price is $67.53 and its two-hundred day moving average price is $62.34.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.33. The company had revenue of $16.90 billion for the quarter, compared to analyst estimates of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.73%. On average, analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 15th were paid a dividend of $0.495 per share. The ex-dividend date was Friday, August 15th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.9%. HSBC’s dividend payout ratio (DPR) is currently 39.21%.

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.