Lake Street Advisors Group LLC Increases Position in HSBC Holdings plc (NYSE:HSBC)

Lake Street Advisors Group LLC increased its position in HSBC Holdings plc (NYSE:HSBC) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 27,929 shares of the financial services provider’s stock after buying an additional 739 shares during the period. Lake Street Advisors Group LLC’s holdings in HSBC were worth $1,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC acquired a new position in shares of HSBC in the fourth quarter valued at about $198,000. Bank of New York Mellon Corp boosted its position in HSBC by 135.6% in the fourth quarter. Bank of New York Mellon Corp now owns 347,565 shares of the financial services provider’s stock valued at $17,191,000 after buying an additional 200,054 shares during the last quarter. Addison Advisors LLC increased its holdings in HSBC by 20.3% in the 4th quarter. Addison Advisors LLC now owns 2,334 shares of the financial services provider’s stock worth $115,000 after buying an additional 394 shares during the period. IFP Advisors Inc lifted its stake in HSBC by 17.2% during the 4th quarter. IFP Advisors Inc now owns 26,739 shares of the financial services provider’s stock valued at $1,323,000 after acquiring an additional 3,917 shares during the period. Finally, Callan Capital LLC boosted its holdings in shares of HSBC by 17.7% in the 4th quarter. Callan Capital LLC now owns 9,013 shares of the financial services provider’s stock valued at $446,000 after acquiring an additional 1,355 shares during the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Price Performance

Shares of NYSE HSBC opened at $58.19 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96. The firm’s 50 day simple moving average is $51.79 and its 200-day simple moving average is $47.47. HSBC Holdings plc has a 12 month low of $36.93 and a 12 month high of $58.34. The stock has a market capitalization of $208.40 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 1.05 and a beta of 0.54.

HSBC (NYSE:HSBC) last released its quarterly earnings data 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. HSBC had a net margin of 16.17% and a return on equity of 12.20%. The company had revenue of $11.56 billion during the quarter, compared to analysts’ expectations of $13.79 billion. Analysts expect that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 7th will be issued a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 12.37%. The ex-dividend date is Friday, March 7th. HSBC’s payout ratio is currently 115.81%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on HSBC shares. Deutsche Bank Aktiengesellschaft cut shares of HSBC from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating on shares of HSBC in a research note on Monday, February 3rd.

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.