HL Financial Services LLC lessened its stake in HSBC Holdings plc (NYSE:HSBC) by 10.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,490 shares of the financial services provider’s stock after selling 1,591 shares during the quarter. HL Financial Services LLC’s holdings in HSBC were worth $636,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of HSBC. Jacobi Capital Management LLC acquired a new position in shares of HSBC in the 1st quarter valued at about $126,000. Legacy Financial Advisors Inc. acquired a new position in HSBC in the 2nd quarter worth about $129,000. Integrated Investment Consultants LLC acquired a new position in HSBC in the 2nd quarter worth about $131,000. TRUE Private Wealth Advisors acquired a new position in HSBC in the 2nd quarter worth about $220,000. Finally, Lenox Wealth Management Inc. raised its holdings in HSBC by 44.4% in the 2nd quarter. Lenox Wealth Management Inc. now owns 4,799 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 1,475 shares during the period. 2.59% of the stock is owned by institutional investors and hedge funds.
NYSE HSBC opened at $44.92 on Friday. HSBC Holdings plc has a twelve month low of $44.57 and a twelve month high of $55.89. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.90 and a quick ratio of 0.96.
HSBC (NYSE:HSBC) last posted its quarterly earnings data on Monday, August 6th. The financial services provider reported $1.05 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.05. The firm had revenue of $13.58 billion for the quarter. equities analysts predict that HSBC Holdings plc will post 3.65 EPS for the current fiscal year.
A number of research firms recently weighed in on HSBC. Zacks Investment Research cut HSBC from a “hold” rating to a “sell” rating in a report on Wednesday, April 25th. ValuEngine cut HSBC from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. JPMorgan Chase & Co. raised HSBC from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 10th. Finally, DZ Bank reaffirmed a “sell” rating on shares of HSBC in a report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $31.50.
HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.
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