Mork Capital Management LLC Purchases New Stake in HSBC Holdings plc (NYSE:HSBC)

Mork Capital Management LLC acquired a new stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,300 shares of the financial services provider's stock, valued at approximately $1,004,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Northern Trust Corp grew its holdings in shares of HSBC by 52.0% during the 4th quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider's stock worth $137,563,000 after purchasing an additional 951,050 shares during the period. FMR LLC grew its holdings in shares of HSBC by 18.1% during the 4th quarter. FMR LLC now owns 2,883,238 shares of the financial services provider's stock worth $142,605,000 after purchasing an additional 441,033 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of HSBC during the 4th quarter worth about $17,815,000. Contrarian Capital Management L.L.C. purchased a new stake in shares of HSBC during the 4th quarter worth about $11,914,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of HSBC by 135.6% during the 4th quarter. Bank of New York Mellon Corp now owns 347,565 shares of the financial services provider's stock worth $17,191,000 after purchasing an additional 200,054 shares during the period. Institutional investors and hedge funds own 1.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut HSBC from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. UBS Group reiterated a "neutral" rating on shares of HSBC in a report on Thursday, March 6th. StockNews.com upgraded HSBC from a "sell" rating to a "hold" rating in a report on Tuesday, March 11th. Barclays upgraded HSBC from an "equal weight" rating to an "overweight" rating in a report on Tuesday, March 4th. Finally, Royal Bank of Canada restated a "sector perform" rating on shares of HSBC in a report on Monday, February 3rd. 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

HSBC Stock Up 0.1%

NYSE HSBC traded up $0.05 on Friday, reaching $58.86. The company had a trading volume of 1,751,796 shares, compared to its average volume of 1,727,942. The firm has a market capitalization of $208.06 billion, a PE ratio of 9.49, a P/E/G ratio of 1.05 and a beta of 0.53. HSBC Holdings plc has a 1 year low of $39.42 and a 1 year high of $61.88. The firm has a 50-day moving average of $55.05 and a 200-day moving average of $52.05. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96.

HSBC (NYSE:HSBC - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.60 by $0.35. The company had revenue of $17.74 billion during the quarter, compared to analysts' expectations of $16.60 billion. HSBC had a return on equity of 12.20% and a net margin of 16.17%. On average, equities research analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.495 per share. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, May 9th. HSBC's dividend payout ratio (DPR) is currently 36.33%.

About HSBC

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.