Bank of America Corp DE Trims Stock Position in HSBC Holdings plc (NYSE:HSBC)

Bank of America Corp DE lessened its holdings in HSBC Holdings plc (NYSE:HSBC - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,037,847 shares of the financial services provider's stock after selling 317,366 shares during the period. Bank of America Corp DE owned about 0.08% of HSBC worth $150,252,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Northern Trust Corp lifted its stake in shares of HSBC by 52.0% in the fourth quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider's stock valued at $137,563,000 after buying an additional 951,050 shares during the period. FMR LLC lifted its position in 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 buying an additional 441,033 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in HSBC in the 4th quarter valued at about $17,815,000. Contrarian Capital Management L.L.C. bought a new position in shares of HSBC in the fourth quarter worth about $11,914,000. Finally, Bank of New York Mellon Corp raised its position in HSBC by 135.6% in 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 last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on HSBC shares. UBS Group restated 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. Deutsche Bank Aktiengesellschaft downgraded HSBC from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Barclays upgraded shares of HSBC from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating on shares of HSBC in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy".

HSBC Trading Up 1.0%

HSBC traded up $0.60 during trading on Thursday, reaching $58.86. 517,293 shares of the stock traded hands, compared to its average volume of 1,733,779. The stock's 50-day moving average is $54.99 and its 200 day moving average is $51.96. The stock has a market capitalization of $208.04 billion, a PE ratio of 9.49, a P/E/G ratio of 1.05 and a beta of 0.53. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. HSBC Holdings plc has a 12 month low of $39.42 and a 12 month high of $61.88.

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

HSBC Dividend Announcement

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

HSBC 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.