Naviter Wealth LLC Acquires 20,856 Shares of HSBC Holdings plc (NYSE:HSBC)

Naviter Wealth LLC grew its holdings in HSBC Holdings plc (NYSE:HSBC) by 31.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 86,404 shares of the financial services provider’s stock after purchasing an additional 20,856 shares during the quarter. Naviter Wealth LLC’s holdings in HSBC were worth $3,525,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC grew its position in HSBC by 6.8% in the first quarter. Measured Wealth Private Client Group LLC now owns 6,724 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 429 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in HSBC by 317.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,343 shares of the financial services provider’s stock worth $407,000 after acquiring an additional 7,866 shares in the last quarter. BKM Wealth Management LLC boosted its holdings in shares of HSBC by 43.8% during the 1st quarter. BKM Wealth Management LLC now owns 12,936 shares of the financial services provider’s stock worth $509,000 after buying an additional 3,941 shares during the period. Optas LLC boosted its holdings in shares of HSBC by 10.2% during the 1st quarter. Optas LLC now owns 7,519 shares of the financial services provider’s stock worth $296,000 after buying an additional 699 shares during the period. Finally, Founders Financial Securities LLC bought a new stake in shares of HSBC during the 1st quarter worth $684,000. 1.48% of the stock is owned by institutional investors.

HSBC Stock Performance

NYSE:HSBC traded up $0.28 during trading hours on Tuesday, hitting $44.09. 849,944 shares of the company traded hands, compared to its average volume of 1,952,854. The stock has a market capitalization of $165.38 billion, a price-to-earnings ratio of 7.60, a P/E/G ratio of 1.04 and a beta of 0.58. HSBC Holdings plc has a twelve month low of $35.30 and a twelve month high of $45.46. The firm has a 50-day moving average of $43.90 and a 200 day moving average of $41.01. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51.

HSBC (NYSE:HSBC) last released its earnings results on Tuesday, April 30th. The financial services provider reported $1.70 EPS for the quarter. HSBC had a net margin of 16.13% and a return on equity of 10.80%. The firm had revenue of $20.75 billion during the quarter. On average, analysts forecast that HSBC Holdings plc will post 6.35 EPS for the current year.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 10th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend was Thursday, May 9th. HSBC’s dividend payout ratio is 34.14%.

Wall Street Analyst Weigh In

Separately, Barclays reaffirmed an “equal weight” rating on shares of HSBC in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $761.75.

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.