Syon Capital LLC Boosts Stock Position in HSBC Holdings plc (NYSE:HSBC)

Syon Capital LLC lifted its stake in HSBC Holdings plc (NYSE:HSBC) by 36.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,644 shares of the financial services provider’s stock after acquiring an additional 3,941 shares during the quarter. Syon Capital LLC’s holdings in HSBC were worth $594,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Grantham Mayo Van Otterloo & Co. LLC grew its position in HSBC by 167.4% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 842,864 shares of the financial services provider’s stock worth $33,259,000 after acquiring an additional 527,677 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of HSBC by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,621,349 shares of the financial services provider’s stock worth $471,129,000 after buying an additional 376,641 shares during the period. American Century Companies Inc. boosted its position in shares of HSBC by 39.4% during the third quarter. American Century Companies Inc. now owns 698,250 shares of the financial services provider’s stock worth $27,553,000 after buying an additional 197,283 shares during the period. CWM LLC boosted its position in shares of HSBC by 3,518.2% during the fourth quarter. CWM LLC now owns 177,835 shares of the financial services provider’s stock worth $7,209,000 after buying an additional 172,920 shares during the period. Finally, QRG Capital Management Inc. purchased a new position in shares of HSBC during the third quarter worth $6,706,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Analyst Upgrades and Downgrades

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

HSBC Stock Performance

Shares of HSBC traded up $0.01 during midday trading on Friday, reaching $43.22. 1,143,430 shares of the stock were exchanged, compared to its average volume of 1,180,131. The business’s 50-day moving average price is $43.24 and its 200 day moving average price is $40.61. The company has a market capitalization of $162.11 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 1.03 and a beta of 0.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.96 and a quick ratio of 0.96. HSBC Holdings plc has a twelve month low of $35.30 and a twelve month high of $45.46.

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

HSBC Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Thursday, May 9th. HSBC’s dividend payout ratio (DPR) is 34.14%.

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.