Suntrust Banks Inc. Raises Stake in HSBC Holdings PLC (HSBC)
Suntrust Banks Inc. boosted its stake in HSBC Holdings PLC (NYSE:HSBC) by 5.7% during the third quarter, Holdings Channel reports. The fund owned 32,319 shares of the company’s stock after buying an additional 1,746 shares during the period. Suntrust Banks Inc.’s holdings in HSBC Holdings PLC were worth $1,213,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in HSBC. Quadrant Capital Group LLC boosted its position in shares of HSBC Holdings PLC by 200.2% in the second quarter. Quadrant Capital Group LLC now owns 3,798 shares of the company’s stock valued at $112,000 after buying an additional 2,533 shares in the last quarter. Enterprise Financial Services Corp boosted its position in shares of HSBC Holdings PLC by 417.0% in the third quarter. Enterprise Financial Services Corp now owns 3,464 shares of the company’s stock valued at $130,000 after buying an additional 2,794 shares in the last quarter. Signaturefd LLC boosted its position in shares of HSBC Holdings PLC by 75.2% in the second quarter. Signaturefd LLC now owns 4,896 shares of the company’s stock valued at $153,000 after buying an additional 2,101 shares in the last quarter. Johnson Investment Counsel Inc. bought a new position in shares of HSBC Holdings PLC during the second quarter valued at $207,000. Finally, Raymond James Trust N.A. bought a new position in shares of HSBC Holdings PLC during the third quarter valued at $207,000. 2.15% of the stock is owned by institutional investors and hedge funds.
HSBC Holdings PLC (NYSE:HSBC) traded down 0.05% during midday trading on Friday, hitting $41.16. The company’s stock had a trading volume of 1,592,855 shares. HSBC Holdings PLC has a 52-week low of $28.62 and a 52-week high of $43.07. The stock has a 50 day moving average of $40.75 and a 200 day moving average of $37.10. The company has a market cap of $161.38 billion, a PE ratio of 12.86 and a beta of 1.08.
A number of equities analysts have recently commented on HSBC shares. Sanford C. Bernstein raised HSBC Holdings PLC from an “underperform” rating to a “hold” rating and set a $31.00 price target for the company in a report on Monday, November 21st. Zacks Investment Research cut HSBC Holdings PLC from a “hold” rating to a “sell” rating in a report on Tuesday, October 25th. Credit Suisse Group started coverage on HSBC Holdings PLC in a report on Tuesday, November 29th. They set a “neutral” rating for the company. Natixis raised HSBC Holdings PLC from a “reduce” rating to a “neutral” rating in a report on Thursday, November 17th. Finally, Morgan Stanley raised HSBC Holdings PLC from an “underweight” rating to an “equal” rating in a report on Tuesday, December 6th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. HSBC Holdings PLC presently has an average rating of “Hold” and a consensus target price of $30.16.
About HSBC Holdings PLC
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through approximately four businesses, such as Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB).
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