Gunderson Capital Management Inc. Sells 11,009 Shares of HSBC Holdings plc $HSBC

Key Points

• Gunderson Capital Management Inc. sold 11,009 shares of HSBC Holdings plc, reducing its stake by 6.1%, and now holds a total of 168,115 shares worth approximately $10.22 million.
• HSBC announced a quarterly dividend of $0.495 per share, representing an annualized dividend of $1.98 and a yield of 2.9% with a payout ratio of 39.21%.
• The financial services provider reported $1.95 earnings per share for its latest quarter, surpassing estimates and highlighting significant revenue growth compared to analyst expectations.

Gunderson Capital Management Inc. lowered its holdings in HSBC Holdings plc (NYSE:HSBC - Free Report) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 168,115 shares of the financial services provider's stock after selling 11,009 shares during the quarter. HSBC accounts for 4.3% of Gunderson Capital Management Inc.'s holdings, making the stock its 6th biggest position. Gunderson Capital Management Inc.'s holdings in HSBC were worth $10,220,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in shares of HSBC by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider's stock worth $271,438,000 after acquiring an additional 53,072 shares during the period. Northern Trust Corp increased its stake in shares of HSBC by 3.3% in the first quarter. Northern Trust Corp now owns 2,873,096 shares of the financial services provider's stock worth $165,002,000 after acquiring an additional 91,789 shares during the period. Contrarian Capital Management L.L.C. increased its stake in shares of HSBC by 425.4% in the first quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider's stock worth $72,687,000 after acquiring an additional 1,024,780 shares during the period. Royal Bank of Canada increased its stake in shares of HSBC by 18.7% in the first quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider's stock worth $60,155,000 after acquiring an additional 164,915 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of HSBC by 9.1% in the first quarter. American Century Companies Inc. now owns 1,022,231 shares of the financial services provider's stock worth $58,707,000 after acquiring an additional 85,166 shares during the period. Institutional investors and hedge funds own 1.48% of the company's stock.

HSBC Stock Performance

HSBC opened at $67.31 on Friday. The firm has a market capitalization of $233.60 billion, a PE ratio of 13.33, a PEG ratio of 1.58 and a beta of 0.62. HSBC Holdings plc has a twelve month low of $43.81 and a twelve month high of $72.21. The firm's 50-day moving average price is $66.84 and its 200 day moving average price is $61.16. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.33. The firm 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%. As a group, sell-side analysts expect that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 15th were given 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 yield of 2.9%. HSBC's payout ratio is presently 39.21%.

Analyst Ratings Changes

Several analysts recently commented on HSBC shares. Citigroup restated a "buy" rating on shares of HSBC in a research report on Monday, September 22nd. BNP Paribas Exane upgraded shares of HSBC from an "underperform" rating to an "outperform" rating in a research report on Friday, September 5th. Zacks Research lowered shares of HSBC from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 3rd. Weiss Ratings restated a "hold (c)" rating on shares of HSBC in a research report on Wednesday. Finally, BNP Paribas upgraded shares of HSBC from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.00.

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.

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