Symphony Financial Services Inc. Makes New Investment in HSBC Holdings plc $HSBC

Symphony Financial Services Inc. purchased a new stake in shares of HSBC Holdings plc (NYSE:HSBC) during the second quarter, Holdings Channel reports. The fund purchased 3,346 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other hedge funds have also recently bought and sold shares of the business. NewSquare Capital LLC lifted its position in shares of HSBC by 152.6% in the second quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock worth $26,000 after buying an additional 261 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of HSBC by 101.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 234 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in HSBC in the 2nd quarter worth approximately $31,000. Raleigh Capital Management Inc. bought a new stake in HSBC during the second quarter worth approximately $33,000. Finally, Ameritas Advisory Services LLC acquired a new position in HSBC during the second quarter valued at approximately $39,000. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Price Performance

Shares of HSBC stock opened at $72.52 on Wednesday. HSBC Holdings plc has a 12 month low of $44.40 and a 12 month high of $72.82. The company has a market capitalization of $250.25 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.30 and a beta of 0.64. The stock has a 50 day moving average of $68.86 and a two-hundred day moving average of $63.82. The company has a current ratio of 0.92, a quick ratio of 0.93 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 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.15. The business had revenue of $17.90 billion during the quarter, compared to analyst estimates of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. As a group, equities analysts expect that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 7th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 7th. This is a positive change from HSBC’s previous quarterly dividend of $0.50. HSBC’s payout ratio is 41.68%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on HSBC shares. Zacks Research upgraded shares of HSBC from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Citigroup reissued a “buy” rating on shares of HSBC in a research report on Tuesday, October 21st. BNP Paribas upgraded shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of HSBC in a research note on Wednesday, October 8th. Finally, BNP Paribas Exane raised HSBC from an “underperform” rating to an “outperform” rating in a research report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.00.

About HSBC

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.