Summit Global Investments Has $4.14 Million Position in HSBC Holdings plc (NYSE:HSBC)

Summit Global Investments lessened its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 102,083 shares of the financial services provider’s stock after selling 695 shares during the quarter. Summit Global Investments’ holdings in HSBC were worth $4,138,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of HSBC by 20.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 9,720 shares of the financial services provider’s stock worth $384,000 after purchasing an additional 1,665 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of HSBC by 105.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 18,110 shares of the financial services provider’s stock valued at $715,000 after buying an additional 9,291 shares during the period. Lindbrook Capital LLC boosted its position in shares of HSBC by 31.9% in the third quarter. Lindbrook Capital LLC now owns 7,627 shares of the financial services provider’s stock valued at $301,000 after acquiring an additional 1,844 shares during the period. Verdence Capital Advisors LLC increased its holdings in HSBC by 4.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 29,634 shares of the financial services provider’s stock worth $1,169,000 after acquiring an additional 1,389 shares during the period. Finally, Calamos Wealth Management LLC purchased a new stake in HSBC in the 3rd quarter worth approximately $1,275,000. Institutional investors own 1.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on HSBC shares. Barclays reissued an “equal weight” rating on shares of HSBC in a research note on Wednesday, March 27th. BNP Paribas downgraded HSBC from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $811.00.

HSBC Stock Performance

NYSE:HSBC traded up $0.87 during mid-day trading on Thursday, reaching $44.52. The company’s stock had a trading volume of 1,793,345 shares, compared to its average volume of 2,231,933. The stock has a market cap of $168.36 billion, a P/E ratio of 7.64, a PEG ratio of 1.03 and a beta of 0.58. The firm’s fifty day moving average price is $39.74 and its two-hundred day moving average price is $39.19. HSBC Holdings plc has a 12-month low of $35.30 and a 12-month high of $44.70. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.62.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, February 21st. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.33). The business had revenue of $13.02 billion during the quarter. HSBC had a return on equity of 10.90% and a net margin of 16.13%. On average, equities analysts forecast that HSBC Holdings plc will post 7.24 EPS for the current fiscal year.

HSBC Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 10th will be paid a $0.50 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.49%. HSBC’s dividend payout ratio (DPR) is presently 106.55%.

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.