Naviter Wealth LLC Purchases 2,525 Shares of HSBC Holdings plc (NYSE:HSBC)

Naviter Wealth LLC grew its position in HSBC Holdings plc (NYSE:HSBC) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,333 shares of the financial services provider’s stock after purchasing an additional 2,525 shares during the quarter. Naviter Wealth LLC’s holdings in HSBC were worth $4,218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ignite Planners LLC boosted its stake in HSBC by 1.3% during the third quarter. Ignite Planners LLC now owns 17,427 shares of the financial services provider’s stock worth $788,000 after buying an additional 225 shares in the last quarter. Drive Wealth Management LLC boosted its stake in HSBC by 4.5% during the second quarter. Drive Wealth Management LLC now owns 6,364 shares of the financial services provider’s stock worth $277,000 after buying an additional 273 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in HSBC by 2.3% during the third quarter. Dynamic Advisor Solutions LLC now owns 11,990 shares of the financial services provider’s stock worth $542,000 after buying an additional 273 shares in the last quarter. Crumly & Associates Inc. boosted its stake in HSBC by 1.8% during the second quarter. Crumly & Associates Inc. now owns 15,970 shares of the financial services provider’s stock worth $695,000 after buying an additional 287 shares in the last quarter. Finally, PDS Planning Inc boosted its stake in HSBC by 2.4% during the first quarter. PDS Planning Inc now owns 13,335 shares of the financial services provider’s stock worth $525,000 after buying an additional 312 shares in the last quarter. Institutional investors own 1.48% of the company’s stock.

HSBC Price Performance

Shares of NYSE:HSBC traded up $0.23 on Thursday, hitting $44.33. The stock had a trading volume of 88,993 shares, compared to its average volume of 1,742,179. HSBC Holdings plc has a twelve month low of $35.30 and a twelve month high of $46.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 0.89. The firm’s 50 day moving average price is $43.86 and its 200-day moving average price is $43.34. The company has a market capitalization of $166.28 billion, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of 0.89 and a beta of 0.56.

HSBC (NYSE:HSBC) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 EPS for the quarter. The company had revenue of $16.54 billion for the quarter. HSBC had a net margin of 15.61% and a return on equity of 10.60%. On average, equities research analysts predict that HSBC Holdings plc will post 6.22 earnings per share for the current year.

HSBC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend was Friday, August 16th. HSBC’s dividend payout ratio (DPR) is presently 34.14%.

Wall Street Analysts Forecast Growth

Separately, Dbs Bank upgraded shares of HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

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.