Forte Capital LLC ADV grew its position in HSBC Holdings plc (NYSE:HSBC) by 7.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,550 shares of the financial services provider’s stock after acquiring an additional 1,945 shares during the quarter. Forte Capital LLC ADV’s holdings in HSBC were worth $1,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently made changes to their positions in the company. Farmers National Bank acquired a new stake in HSBC in the 1st quarter valued at $25,000. Harvest Group Wealth Management LLC acquired a new position in HSBC during the first quarter worth $27,000. Vigilant Capital Management LLC acquired a new position in HSBC during the first quarter worth $31,000. Cordasco Financial Network boosted its holdings in HSBC by 57.2% during the second quarter. Cordasco Financial Network now owns 838 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 305 shares during the last quarter. Finally, Massey Quick Simon & CO. LLC acquired a new position in HSBC during the first quarter worth $41,000. Hedge funds and other institutional investors own 2.46% of the company’s stock.
Shares of HSBC stock opened at $35.64 on Friday. The company has a market capitalization of $147.51 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 2.40 and a beta of 0.68. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.50. HSBC Holdings plc has a 12-month low of $35.62 and a 12-month high of $45.40. The firm’s 50-day moving average price is $40.44 and its two-hundred day moving average price is $41.47.
Several research analysts recently commented on HSBC shares. Barclays cut shares of HSBC from an “equal weight” rating to an “underweight” rating in a report on Wednesday, July 17th. Morgan Stanley lowered shares of HSBC from an “overweight” rating to an “equal weight” rating in a research report on Friday, June 21st. ValuEngine lowered shares of HSBC from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. Goldman Sachs Group raised shares of HSBC from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 22nd. Finally, Jefferies Financial Group lowered shares of HSBC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. HSBC currently has a consensus rating of “Hold” and a consensus price target of $43.80.
HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.
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