PNC Financial Services Group Inc. Decreases Stock Position in HSBC Holdings plc (NYSE:HSBC)

PNC Financial Services Group Inc. lessened its holdings in HSBC Holdings plc (NYSE:HSBC) by 1.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,983 shares of the financial services provider’s stock after selling 685 shares during the quarter. PNC Financial Services Group Inc.’s holdings in HSBC were worth $2,373,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. FMR LLC grew its position in HSBC by 44.3% in the 3rd quarter. FMR LLC now owns 2,442,205 shares of the financial services provider’s stock valued at $110,363,000 after acquiring an additional 749,759 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in HSBC by 2.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 514,642 shares of the financial services provider’s stock valued at $25,454,000 after acquiring an additional 14,095 shares during the last quarter. Raymond James Financial Inc. bought a new position in HSBC in the 4th quarter valued at $17,815,000. Bank of New York Mellon Corp grew its position in HSBC by 135.6% in the 4th quarter. Bank of New York Mellon Corp now owns 347,565 shares of the financial services provider’s stock valued at $17,191,000 after acquiring an additional 200,054 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in HSBC by 11.7% in the 4th quarter. QRG Capital Management Inc. now owns 346,661 shares of the financial services provider’s stock valued at $17,146,000 after acquiring an additional 36,219 shares during the last quarter. Institutional investors own 1.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays raised HSBC from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft downgraded HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating on shares of HSBC in a research report on Monday, February 3rd. StockNews.com raised HSBC from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, UBS Group reissued a “neutral” rating on shares of HSBC in a research report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

HSBC Trading Up 2.6 %

HSBC stock opened at $57.08 on Friday. The stock has a 50-day moving average of $53.97 and a two-hundred day moving average of $48.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.88. HSBC Holdings plc has a one year low of $38.04 and a one year high of $61.88. The stock has a market cap of $203.60 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 1.05 and a beta of 0.51.

HSBC (NYSE:HSBC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.04. HSBC had a return on equity of 12.20% and a net margin of 16.17%. The company had revenue of $11.56 billion during the quarter, compared to analysts’ expectations of $13.79 billion. On average, research analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 7th will be paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 12.61%. The ex-dividend date is Friday, March 7th. HSBC’s payout ratio is 115.81%.

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.