Farther Finance Advisors LLC Grows Stake in HSBC Holdings plc $HSBC

Farther Finance Advisors LLC boosted its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 166.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,764 shares of the financial services provider’s stock after purchasing an additional 7,347 shares during the period. Farther Finance Advisors LLC’s holdings in HSBC were worth $835,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Fisher Asset Management LLC increased its position in shares of HSBC by 9.2% during the 2nd quarter. Fisher Asset Management LLC now owns 17,043,371 shares of the financial services provider’s stock valued at $1,036,067,000 after purchasing an additional 1,430,797 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in HSBC by 1.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock worth $271,438,000 after buying an additional 53,072 shares during the period. American Century Companies Inc. increased its position in HSBC by 11.9% during the second quarter. American Century Companies Inc. now owns 1,143,382 shares of the financial services provider’s stock valued at $69,506,000 after acquiring an additional 121,151 shares during the last quarter. Royal Bank of Canada raised its stake in shares of HSBC by 18.7% in the first quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider’s stock valued at $60,155,000 after acquiring an additional 164,915 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of HSBC by 160.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 502,200 shares of the financial services provider’s stock worth $30,529,000 after acquiring an additional 309,738 shares during the last quarter. 1.48% of the stock is owned by institutional investors.

HSBC Stock Down 1.4%

Shares of NYSE:HSBC opened at $78.81 on Tuesday. The business’s 50 day moving average is $72.20 and its 200 day moving average is $67.41. The stock has a market cap of $270.73 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. HSBC Holdings plc has a 52-week low of $45.66 and a 52-week high of $79.97. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

HSBC (NYSE:HSBC) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.15. HSBC had a return on equity of 12.78% and a net margin of 12.85%.The business had revenue of $17.79 billion during the quarter, compared to analyst estimates of $16.78 billion. Sell-side analysts predict that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Friday, November 7th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, November 7th. This is a positive change from HSBC’s previous quarterly dividend of $0.50. HSBC’s dividend payout ratio (DPR) is currently 41.68%.

Analyst Upgrades and Downgrades

HSBC has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of HSBC in a report on Monday, December 22nd. Bank of America raised HSBC from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 10th. BNP Paribas raised HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. Keefe, Bruyette & Woods upgraded HSBC from a “hold” rating to a “moderate buy” rating in a report on Wednesday, December 17th. Finally, Erste Group Bank upgraded HSBC from a “hold” rating to a “buy” rating in a research note on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, HSBC presently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

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.