Foresight Capital Management Advisors Inc. Boosts Position in HSBC Holdings plc (NYSE:HSBC)

Foresight Capital Management Advisors Inc. boosted its holdings in HSBC Holdings plc (NYSE:HSBC) by 3.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 27,183 shares of the financial services provider’s stock after buying an additional 880 shares during the period. Foresight Capital Management Advisors Inc.’s holdings in HSBC were worth $1,182,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. purchased a new position in HSBC in the fourth quarter valued at approximately $27,000. Rise Advisors LLC acquired a new stake in HSBC in the first quarter valued at approximately $34,000. Addison Advisors LLC grew its position in HSBC by 74.8% in the fourth quarter. Addison Advisors LLC now owns 895 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 383 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in HSBC by 38.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 940 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 263 shares in the last quarter. Finally, RFP Financial Group LLC grew its position in HSBC by 126.1% in the first quarter. RFP Financial Group LLC now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 575 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Stock Up 1.1 %

Shares of HSBC stock traded up $0.43 during mid-day trading on Thursday, reaching $41.22. 1,213,112 shares of the company were exchanged, compared to its average volume of 1,896,171. HSBC Holdings plc has a fifty-two week low of $35.30 and a fifty-two week high of $45.53. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 0.89. The company has a market capitalization of $154.61 billion, a P/E ratio of 7.11, a P/E/G ratio of 0.92 and a beta of 0.58. The business’s 50 day simple moving average is $43.39 and its 200 day simple moving average is $41.62.

HSBC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date is Friday, August 16th. HSBC’s payout ratio is currently 34.14%.

Wall Street Analysts Forecast Growth

Separately, Dbs Bank raised shares of HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $825.00.

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.