Schechter Investment Advisors LLC Sells 952 Shares of HSBC Holdings plc (NYSE:HSBC)

Schechter Investment Advisors LLC lessened its stake in HSBC Holdings plc (NYSE:HSBC) by 6.3% in the 4th quarter, HoldingsChannel reports. The fund owned 14,127 shares of the financial services provider’s stock after selling 952 shares during the quarter. Schechter Investment Advisors LLC’s holdings in HSBC were worth $699,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HSBC. Bank of Montreal Can grew its position in shares of HSBC by 124.3% during the 3rd quarter. Bank of Montreal Can now owns 171,416 shares of the financial services provider’s stock worth $7,820,000 after buying an additional 94,991 shares during the period. Wealthstar Advisors LLC acquired a new position in HSBC during the fourth quarter worth $664,000. Entropy Technologies LP acquired a new position in HSBC during the fourth quarter worth $701,000. Ritholtz Wealth Management increased its holdings in shares of HSBC by 12.3% in the fourth quarter. Ritholtz Wealth Management now owns 141,108 shares of the financial services provider’s stock valued at $6,979,000 after purchasing an additional 15,510 shares during the last quarter. Finally, Perigon Wealth Management LLC bought a new stake in shares of HSBC in the fourth quarter valued at about $244,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. StockNews.com cut shares of HSBC from a “hold” rating to a “sell” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft downgraded HSBC from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of HSBC in a research note on Monday, February 3rd. Finally, Barclays raised HSBC from an “equal weight” rating to an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, HSBC has a consensus rating of “Hold”.

HSBC Stock Performance

NYSE:HSBC opened at $60.27 on Wednesday. The company has a market capitalization of $215.87 billion, a PE ratio of 9.72, a P/E/G ratio of 1.05 and a beta of 0.54. The company has a 50 day simple moving average of $52.68 and a two-hundred day simple moving average of $48.00. 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 fifty-two week low of $36.93 and a fifty-two week high of $61.88.

HSBC (NYSE:HSBC) last released its earnings results on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.04. The business had revenue of $11.56 billion during the quarter, compared to the consensus estimate of $13.79 billion. HSBC had a net margin of 16.17% and a return on equity of 12.20%. Research analysts anticipate that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 7th will be issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 11.95%. The ex-dividend date is Friday, March 7th. HSBC’s payout ratio is 115.81%.

HSBC 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.