Ritholtz Wealth Management Has $8.07 Million Stake in HSBC Holdings plc $HSBC

Key Points

• Ritholtz Wealth Management reduced its stake in HSBC Holdings plc by 3.6%, now holding 132,819 shares valued at approximately $8.07 million.
• Analysts have varied opinions on HSBC, with BNP Paribas upgrading it from "underperform" to "outperform" while Zacks lowered its rating from "strong-buy" to "hold."
• HSBC recently reported earnings of $1.95 per share for the last quarter, exceeding analysts' estimates, alongside a quarterly dividend of $0.495 per share, reflecting a 3.0% yield.

Ritholtz Wealth Management reduced its position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,819 shares of the financial services provider's stock after selling 4,978 shares during the quarter. Ritholtz Wealth Management's holdings in HSBC were worth $8,074,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HSBC. TD Private Client Wealth LLC raised its holdings in shares of HSBC by 101.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 234 shares during the period. Opal Wealth Advisors LLC acquired a new position in HSBC during the second quarter worth approximately $31,000. Wayfinding Financial LLC bought a new stake in HSBC in the first quarter valued at approximately $30,000. Raleigh Capital Management Inc. acquired a new stake in shares of HSBC in the second quarter valued at approximately $33,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of HSBC during the 2nd quarter worth approximately $39,000. Institutional investors own 1.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. BNP Paribas Exane raised HSBC from an "underperform" rating to an "outperform" rating in a 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. BNP Paribas raised shares of HSBC from a "strong sell" rating to a "strong-buy" rating in a report on Friday, September 5th. Citigroup reissued a "buy" rating on shares of HSBC in a report on Monday, September 22nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of HSBC in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $63.00.

HSBC Stock Performance

NYSE HSBC opened at $66.88 on Wednesday. The firm has a 50-day moving average price of $67.13 and a two-hundred day moving average price of $61.35. HSBC Holdings plc has a 12-month low of $43.81 and a 12-month high of $72.21. The company has a market capitalization of $230.79 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.68 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 (NYSE:HSBC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.33. The company had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.73%. Analysts anticipate that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 15th were issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. HSBC's dividend payout ratio is 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.

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