Ritholtz Wealth Management Has $14.42 Million Holdings in HSBC Holdings plc $HSBC

Key Points

• Ritholtz Wealth Management increased its HSBC stake by 8.7% in the first quarter, ending with 174,773 shares valued at about $14.42 million.
• HSBC shares were down 1.9% in the session, but the stock remains near its 52-week high, with a market cap of roughly $322.34 billion and a trailing P/E of 15.38.
• The bank reported quarterly EPS of $0.44 and declared a $0.50 quarterly dividend payable June 26, implying a 2.1% yield; analysts currently have a consensus rating of Hold.

Ritholtz Wealth Management boosted its stake in HSBC Holdings plc (NYSE:HSBC - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,773 shares of the financial services provider's stock after buying an additional 14,013 shares during the quarter. Ritholtz Wealth Management's holdings in HSBC were worth $14,417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HSBC. Morgan Stanley grew its holdings in shares of HSBC by 15.3% in the 4th quarter. Morgan Stanley now owns 7,483,883 shares of the financial services provider's stock worth $588,757,000 after purchasing an additional 993,473 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in HSBC by 1,272.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 909,464 shares of the financial services provider's stock valued at $71,548,000 after purchasing an additional 843,186 shares during the last quarter. Clearbridge Investments LLC boosted its position in HSBC by 77.0% in the fourth quarter. Clearbridge Investments LLC now owns 1,443,716 shares of the financial services provider's stock valued at $113,577,000 after buying an additional 627,857 shares in the last quarter. Fisher Asset Management LLC grew its stake in HSBC by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 17,800,748 shares of the financial services provider's stock worth $1,400,385,000 after buying an additional 402,288 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of HSBC by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 10,575,644 shares of the financial services provider's stock worth $750,659,000 after buying an additional 185,073 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company's stock.

HSBC Stock Down 1.9%

Shares of NYSE HSBC opened at $93.79 on Thursday. HSBC Holdings plc has a 1 year low of $59.92 and a 1 year high of $96.90. The firm's 50-day moving average is $91.66 and its 200-day moving average is $86.15. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $322.34 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.85 and a beta of 0.56.

HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share for the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. The business had revenue of $19.12 billion during the quarter. Equities analysts expect that HSBC Holdings plc will post 8.6 EPS for the current year.

HSBC Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, May 15th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, May 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. HSBC's payout ratio is presently 32.46%.

Insider Buying and Selling at HSBC

In other news, insider Daniel Scott Palomaki sold 23,123 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.11, for a total value of $418,757.53. Following the transaction, the insider directly owned 4,973 shares in the company, valued at $90,061.03. This trade represents a 82.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group began coverage on HSBC in a report on Thursday, March 26th. They issued a "buy" rating on the stock. Weiss Ratings lowered HSBC from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of HSBC in a report on Tuesday. Zacks Research cut HSBC from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada reissued a "sector perform" rating on shares of HSBC in a report on Thursday, May 14th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold".

Key Headlines Impacting HSBC

Here are the key news stories impacting HSBC this week:

• Positive Sentiment: HSBC continued expanding its digital cash-management and payments footprint, including rolling out TradeCash in Singapore and extending its Orion blockchain network to support real-time dirham liquidity flows in the UAE, which highlights growing adoption of its transaction-banking platform. HSBC rolls out TradeCash in Singapore
• Positive Sentiment: Reports that HSBC is expanding office space in Buffalo suggest continued investment in its operating footprint, and the stock had recently been trading near new highs, signaling generally constructive sentiment around the name. HSBC signs 10-year lease for more office space as it expands Buffalo presence
• Positive Sentiment: Several articles pointed to HSBC’s push into AI and digital wealth tools, including survey results showing affluent clients are adopting AI for investing and commentary that HSBC is pursuing AI integration with Google, which may support longer-term efficiency and product innovation. HSBC Holdings plc (HSBC) is a Top UK Dividend Stock Pursuing AI Integration with Google
• Neutral Sentiment: HSBC also appeared in market commentary on macro trends, including a view that U.S. exceptionalism may be fading and a separate report that India’s private-sector growth slowed, but these were more about economic conditions than direct company-specific fundamentals. US exceptionalism nearing expiration date, HSBC's Kettner says
• Negative Sentiment: Offsetting the growth headlines, HSBC faced negative press around a formal investigation into its Swiss unit over a reported embezzlement scandal, while another story said job cuts are increasing restructuring costs, both of which could pressure sentiment. How HSBC ended up at the centre of a $330mn embezzlement scandal

About HSBC

HSBC Holdings plc NYSE: HSBC is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world's largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.

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