5,931 Shares in HSBC Holdings plc (NYSE:HSBC) Bought by Choate Investment Advisors

Choate Investment Advisors bought a new position in HSBC Holdings plc (NYSE:HSBC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,931 shares of the financial services provider’s stock, valued at approximately $293,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its stake in shares of HSBC by 58.2% during the 4th quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after buying an additional 210 shares during the last quarter. Huntington National Bank raised its stake in shares of HSBC by 11.9% during the 3rd quarter. Huntington National Bank now owns 2,122 shares of the financial services provider’s stock valued at $96,000 after buying an additional 226 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of HSBC by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,909 shares of the financial services provider’s stock valued at $990,000 after buying an additional 235 shares during the last quarter. Sonoma Private Wealth LLC raised its stake in shares of HSBC by 3.9% during the 4th quarter. Sonoma Private Wealth LLC now owns 6,635 shares of the financial services provider’s stock valued at $328,000 after buying an additional 250 shares during the last quarter. Finally, Abel Hall LLC raised its stake in shares of HSBC by 4.3% during the 3rd quarter. Abel Hall LLC now owns 6,221 shares of the financial services provider’s stock valued at $281,000 after buying an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Analysts Set New Price Targets

HSBC has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating on shares of HSBC in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lowered HSBC from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. UBS Group restated a “neutral” rating on shares of HSBC in a research note on Thursday, March 6th. Barclays upgraded HSBC from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. Finally, StockNews.com upgraded HSBC from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, HSBC currently has a consensus rating of “Moderate Buy”.

HSBC Trading Up 1.3 %

HSBC stock opened at $57.83 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69. HSBC Holdings plc has a 12-month low of $38.34 and a 12-month high of $61.88. The stock has a market cap of $206.27 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 1.05 and a beta of 0.51. The business’s 50-day moving average is $54.14 and its 200 day moving average is $48.87.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $13.79 billion. On average, sell-side 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. Investors of record on Friday, March 7th will be issued a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 12.45%. The ex-dividend date is Friday, March 7th. HSBC’s payout ratio is 115.81%.

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.