Wealthfront Advisers LLC Takes Position in HSBC Holdings plc (NYSE:HSBC)

Wealthfront Advisers LLC acquired a new stake in HSBC Holdings plc (NYSE:HSBC) during the fourth quarter, Holdings Channel.com reports. The firm acquired 10,864 shares of the financial services provider’s stock, valued at approximately $537,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can lifted its stake in shares of HSBC by 124.3% in the 3rd quarter. Bank of Montreal Can now owns 171,416 shares of the financial services provider’s stock valued at $7,820,000 after purchasing an additional 94,991 shares during the period. Wealthstar Advisors LLC acquired a new position in HSBC during the 4th quarter worth approximately $664,000. Entropy Technologies LP acquired a new position in HSBC during the 4th quarter worth approximately $701,000. Ritholtz Wealth Management raised its stake in HSBC by 12.3% during the 4th quarter. Ritholtz Wealth Management now owns 141,108 shares of the financial services provider’s stock worth $6,979,000 after buying an additional 15,510 shares during the period. Finally, Perigon Wealth Management LLC acquired a new position in HSBC during the 4th quarter worth approximately $244,000. 1.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HSBC shares. Deutsche Bank Aktiengesellschaft downgraded HSBC from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of HSBC in a research note on Monday, February 3rd. Barclays raised HSBC from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. UBS Group reissued a “neutral” rating on shares of HSBC in a report on Thursday, March 6th. Finally, StockNews.com raised HSBC from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Four 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

HSBC Stock Performance

Shares of HSBC opened at $57.08 on Monday. The firm has a market capitalization of $203.60 billion, a P/E ratio of 9.21, a P/E/G ratio of 1.05 and a beta of 0.51. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.88. The stock has a 50 day moving average price of $53.97 and a two-hundred day moving average price of $48.78. HSBC Holdings plc has a 52 week low of $38.34 and a 52 week high of $61.88.

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

HSBC Announces Dividend

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

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.