Arkadios Wealth Advisors Has $2.13 Million Stock Holdings in HSBC Holdings plc $HSBC

Arkadios Wealth Advisors cut its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 21.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,070 shares of the financial services provider’s stock after selling 9,833 shares during the period. Arkadios Wealth Advisors’ holdings in HSBC were worth $2,132,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of HSBC. Contrarian Capital Management L.L.C. grew its holdings in HSBC by 425.4% during the first quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider’s stock worth $72,687,000 after purchasing an additional 1,024,780 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in HSBC by 729.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,953 shares of the financial services provider’s stock worth $22,280,000 after purchasing an additional 341,187 shares during the period. 1832 Asset Management L.P. bought a new position in HSBC during the first quarter worth about $17,430,000. Royal Bank of Canada grew its holdings in HSBC by 18.7% during the first quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider’s stock worth $60,155,000 after purchasing an additional 164,915 shares during the period. Finally, Northern Trust Corp grew its holdings in HSBC by 3.3% during the first quarter. Northern Trust Corp now owns 2,873,096 shares of the financial services provider’s stock worth $165,002,000 after purchasing an additional 91,789 shares during the period. Institutional investors own 1.48% of the company’s stock.

HSBC Price Performance

Shares of NYSE HSBC opened at $70.33 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. The firm has a market cap of $242.67 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 1.30 and a beta of 0.62. The business’s 50 day moving average is $67.86 and its 200-day moving average is $62.69. HSBC Holdings plc has a 1-year low of $44.40 and a 1-year high of $72.21.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.15. The business had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. Equities research analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, November 7th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.8%. This is an increase from HSBC’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, November 7th. HSBC’s dividend payout ratio is presently 39.21%.

Analysts Set New Price Targets

A number of research firms recently commented on HSBC. BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. BNP Paribas Exane upgraded HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. Jefferies Financial Group restated a “hold” rating on shares of HSBC in a report on Friday, October 10th. Zacks Research lowered HSBC from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Citigroup reiterated a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.00.

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.