Checchi Capital Advisers LLC Sells 513 Shares of HSBC Holdings plc $HSBC

Checchi Capital Advisers LLC lessened its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,193 shares of the financial services provider’s stock after selling 513 shares during the quarter. Checchi Capital Advisers LLC’s holdings in HSBC were worth $1,592,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. TD Private Client Wealth LLC boosted its holdings in HSBC by 101.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 234 shares during the last quarter. Wayfinding Financial LLC bought a new stake in HSBC in the 1st quarter valued at about $30,000. Opal Wealth Advisors LLC bought a new stake in HSBC in the 2nd quarter valued at about $31,000. Raleigh Capital Management Inc. bought a new stake in HSBC in the 2nd quarter valued at about $33,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of HSBC during the second quarter valued at about $39,000. 1.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HSBC has been the topic of several analyst reports. BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, September 5th. BNP Paribas Exane raised HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Citigroup reissued a “buy” rating on shares of HSBC in a research note on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of HSBC in a research note on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.00.

HSBC Price Performance

Shares of NYSE:HSBC opened at $72.15 on Friday. HSBC Holdings plc has a 1-year low of $43.81 and a 1-year high of $72.21. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.93. The business has a fifty day moving average price of $66.27 and a 200-day moving average price of $60.84. The company has a market capitalization of $250.38 billion, a PE ratio of 14.29, a PEG ratio of 1.61 and a beta of 0.62.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.33. HSBC had a return on equity of 12.73% and a net margin of 13.48%.The firm had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $16.64 billion. As a group, equities analysts expect that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 15th were issued a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, August 15th. HSBC’s dividend payout ratio (DPR) is presently 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.