Victory Capital Management Inc. Trims Stock Position in HSBC Holdings plc (NYSE:HSBC)

Victory Capital Management Inc. cut its stake in HSBC Holdings plc (NYSE:HSBC - Free Report) by 88.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,391 shares of the financial services provider's stock after selling 41,704 shares during the period. Victory Capital Management Inc.'s holdings in HSBC were worth $219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NBC Securities Inc. purchased a new position in HSBC in the third quarter worth about $109,000. Zions Bancorporation N.A. boosted its stake in HSBC by 26.1% during the third quarter. Zions Bancorporation N.A. now owns 20,854 shares of the financial services provider's stock worth $823,000 after buying an additional 4,317 shares during the period. Cookson Peirce & Co. Inc. raised its position in HSBC by 0.5% in the 3rd quarter. Cookson Peirce & Co. Inc. now owns 618,851 shares of the financial services provider's stock worth $24,420,000 after purchasing an additional 3,238 shares during the period. Quantbot Technologies LP purchased a new stake in HSBC in the 3rd quarter valued at about $3,972,000. Finally, Americana Partners LLC increased its holdings in HSBC by 5.5% during the 3rd quarter. Americana Partners LLC now owns 14,841 shares of the financial services provider's stock worth $584,000 after purchasing an additional 769 shares during the period. Institutional investors own 1.48% of the company's stock.

Wall Street Analyst Weigh In

Separately, Barclays reissued an "equal weight" rating on shares of HSBC in a report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $761.75.

HSBC Trading Up 1.3 %

HSBC traded up $0.58 during trading hours on Monday, reaching $44.38. The company's stock had a trading volume of 1,198,800 shares, compared to its average volume of 2,132,572. The business's 50-day moving average is $41.95 and its 200-day moving average is $40.04. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.96 and a quick ratio of 0.96. HSBC Holdings plc has a fifty-two week low of $35.30 and a fifty-two week high of $45.46. The stock has a market cap of $167.83 billion, a PE ratio of 7.65, a P/E/G ratio of 1.06 and a beta of 0.58.

HSBC (NYSE:HSBC - Get Free Report) last released its earnings results on Tuesday, April 30th. The financial services provider reported $1.70 EPS for the quarter. The firm had revenue of $20.75 billion during the quarter. HSBC had a return on equity of 10.80% and a net margin of 16.13%. As a group, equities research analysts predict that HSBC Holdings plc will post 6.35 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Thursday, May 9th. HSBC's payout ratio is 34.14%.

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.