Naviter Wealth LLC Purchases 2,525 Shares of HSBC Holdings plc (NYSE:HSBC)

Naviter Wealth LLC grew its position in shares of HSBC Holdings plc (NYSE:HSBC) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,333 shares of the financial services provider’s stock after buying an additional 2,525 shares during the period. Naviter Wealth LLC’s holdings in HSBC were worth $4,218,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of HSBC. American Century Companies Inc. boosted its stake in HSBC by 4.6% in the second quarter. American Century Companies Inc. now owns 850,842 shares of the financial services provider’s stock valued at $37,012,000 after buying an additional 37,781 shares in the last quarter. Natixis Advisors LLC boosted its stake in HSBC by 22.1% in the second quarter. Natixis Advisors LLC now owns 413,789 shares of the financial services provider’s stock valued at $18,000,000 after buying an additional 74,980 shares in the last quarter. Raymond James & Associates boosted its stake in HSBC by 2.6% in the second quarter. Raymond James & Associates now owns 361,416 shares of the financial services provider’s stock valued at $15,722,000 after buying an additional 9,323 shares in the last quarter. QRG Capital Management Inc. boosted its stake in HSBC by 19.0% in the second quarter. QRG Capital Management Inc. now owns 302,994 shares of the financial services provider’s stock valued at $13,180,000 after buying an additional 48,366 shares in the last quarter. Finally, Creative Planning increased its stake in shares of HSBC by 9.4% in the third quarter. Creative Planning now owns 222,092 shares of the financial services provider’s stock valued at $10,036,000 after buying an additional 19,165 shares during the period. Institutional investors own 1.48% of the company’s stock.

Analyst Ratings Changes

Separately, Dbs Bank raised HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, HSBC currently has an average rating of “Hold”.

HSBC Trading Up 0.5 %

Shares of HSBC stock traded up $0.23 on Thursday, hitting $44.33. The stock had a trading volume of 88,993 shares, compared to its average volume of 1,742,179. The stock has a 50 day moving average of $43.86 and a 200 day moving average of $43.34. HSBC Holdings plc has a twelve month low of $35.30 and a twelve month high of $46.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 0.89. The firm has a market capitalization of $166.28 billion, a P/E ratio of 7.60, a PEG ratio of 0.89 and a beta of 0.56.

HSBC (NYSE:HSBC) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 EPS for the quarter. HSBC had a return on equity of 10.60% and a net margin of 15.61%. The business had revenue of $16.54 billion for the quarter. Sell-side analysts expect that HSBC Holdings plc will post 6.22 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.51%. The ex-dividend date was Friday, August 16th. HSBC’s payout ratio is presently 34.14%.

HSBC 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.