WCG Wealth Advisors LLC Purchases 29,229 Shares of HSBC Holdings plc $HSBC

Key Points

• WCG Wealth Advisors LLC increased its HSBC stake by 119.4% in the fourth quarter, buying 29,229 additional shares and bringing its total to 53,701 shares worth about $4.23 million.
• HSBC reported quarterly earnings of $0.44 per share on revenue of $19.13 billion, and it declared a quarterly dividend of $0.50 per share payable June 26 for an annualized yield of 2.2%.
• The stock has seen mixed sentiment: several analysts currently rate it Hold on average, while recent news has highlighted pressure from China’s tighter scrutiny of offshore accounts and capital controls.

WCG Wealth Advisors LLC lifted its holdings in HSBC Holdings plc (NYSE:HSBC - Free Report) by 119.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,701 shares of the financial services provider's stock after buying an additional 29,229 shares during the quarter. WCG Wealth Advisors LLC's holdings in HSBC were worth $4,225,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Measured Wealth Private Client Group LLC purchased a new position in shares of HSBC during the third quarter valued at approximately $26,000. Binnacle Investments Inc increased its position in HSBC by 80.5% during the 3rd quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider's stock valued at $32,000 after buying an additional 198 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in HSBC by 30.7% during the fourth quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider's stock valued at $43,000 after buying an additional 117 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in HSBC in the fourth quarter worth $43,000. Finally, Bartlett & CO. Wealth Management LLC grew its stake in shares of HSBC by 126.4% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 575 shares of the financial services provider's stock worth $45,000 after acquiring an additional 321 shares during the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at HSBC

In other news, insider Daniel Scott Palomaki sold 23,123 shares of the company's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.11, for a total value of $418,757.53. Following the completion of the transaction, the insider owned 4,973 shares of the company's stock, valued at $90,061.03. This represents a 82.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.01% of the stock is owned by insiders.

HSBC Stock Performance

Shares of NYSE HSBC opened at $92.59 on Friday. HSBC Holdings plc has a 12-month low of $58.14 and a 12-month high of $95.61. The firm has a market capitalization of $318.22 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 0.84 and a beta of 0.56. 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 50 day moving average of $89.41 and a 200 day moving average of $83.93.

HSBC (NYSE:HSBC - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share for the quarter. The business had revenue of $19.13 billion for the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. On average, research analysts anticipate that HSBC Holdings plc will post 8.55 earnings per share for the current year.

HSBC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, May 15th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, May 15th. HSBC's dividend payout ratio is presently 32.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HSBC shares. Weiss Ratings lowered HSBC from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Zacks Research cut shares of HSBC from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. Royal Bank Of Canada restated a "sector perform" rating on shares of HSBC in a report on Thursday, May 14th. BNP Paribas Exane lowered HSBC from an "outperform" rating to a "neutral" rating in a report on Tuesday, April 14th. Finally, The Goldman Sachs Group assumed coverage on HSBC in a report on Thursday, March 26th. They set a "buy" rating on the stock. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, HSBC presently has an average rating of "Hold".

HSBC News Roundup

Here are the key news stories impacting HSBC this week:

• Negative Sentiment: HSBC and other Hong Kong financial stocks fell on reports that China is tightening scrutiny of mainland clients opening offshore accounts, raising concerns about reduced fee income and weaker cross-border activity. HSBC, AIA Slump After Report of Hong Kong Bank Account Curbs
• Negative Sentiment: Additional coverage said Hong Kong-listed HSBC shares dropped as China’s tighter capital controls threatened offshore account growth and bank deposit inflows. Hong Kong-listed shares of AIA, HSBC and StanChart fall as China tightens capital controls
• Negative Sentiment: HSBC was also hit by a report saying the new rules could restrict Chinese funds in Hong Kong accounts, adding another headwind for valuation. HSBC, StanChart Shares Slide as New Rules Could Restrict Chinese Funds in Hong Kong Accounts
• Negative Sentiment: Another report said Hong Kong financial stocks tumbled on Friday after tighter offshore checks in China sparked worries about pressure on banks’ balance-sheet growth and related income streams. Hong Kong financial stocks tumble as China tightens offshore checks
• Negative Sentiment: HSBC was also mentioned in a whistleblower allegation involving HSBC Bank USA and possible Sarbanes-Oxley violations, which could add legal and compliance overhang. Whistleblower Accuses HSBC Bank USA of Sarbanes-Oxley Violations
• Neutral Sentiment: HSBC Continental Europe issued post-stabilisation notices for recent bond offerings, which appears routine and is unlikely to affect the equity story. HSBC Continental Europe: Post Stabilisation Notice

HSBC Profile

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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