Raymond James Financial Inc. Takes $17.82 Million Position in HSBC Holdings plc (NYSE:HSBC)

Raymond James Financial Inc. acquired a new position in shares of HSBC Holdings plc (NYSE:HSBC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 360,192 shares of the financial services provider’s stock, valued at approximately $17,815,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its position in HSBC by 58.2% during the 4th quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 210 shares in the last quarter. Huntington National Bank increased its position in HSBC by 11.9% during the 3rd quarter. Huntington National Bank now owns 2,122 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 226 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in HSBC by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,909 shares of the financial services provider’s stock worth $990,000 after purchasing an additional 235 shares in the last quarter. Sonoma Private Wealth LLC increased its position in HSBC by 3.9% during the 4th quarter. Sonoma Private Wealth LLC now owns 6,635 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 250 shares in the last quarter. Finally, Abel Hall LLC increased its position in HSBC by 4.3% during the 3rd quarter. Abel Hall LLC now owns 6,221 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 257 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HSBC shares. Royal Bank of Canada reiterated a “sector perform” rating on shares of HSBC in a research report on Monday, February 3rd. Barclays upgraded shares of HSBC from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. StockNews.com upgraded shares of HSBC from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. UBS Group restated a “neutral” rating on shares of HSBC in a research report on Thursday, March 6th. Finally, Deutsche Bank Aktiengesellschaft cut shares of HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, HSBC presently has a consensus rating of “Moderate Buy”.

HSBC Trading Up 1.3 %

Shares of NYSE HSBC opened at $57.83 on Tuesday. The firm has a 50 day moving average price of $54.14 and a two-hundred day moving average price of $48.87. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.88. HSBC Holdings plc has a 52-week low of $38.34 and a 52-week high of $61.88. The stock has a market cap of $206.27 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 1.05 and a beta of 0.51.

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

HSBC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 7th will be paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 12.45%. The ex-dividend date is Friday, March 7th. HSBC’s dividend payout ratio is currently 115.81%.

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.