Frank Rimerman Advisors LLC Has $758,000 Position in HSBC Holdings plc (NYSE:HSBC)

Frank Rimerman Advisors LLC lowered its position in HSBC Holdings plc (NYSE:HSBC) by 74.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,334 shares of the financial services provider’s stock after selling 45,220 shares during the period. Frank Rimerman Advisors LLC’s holdings in HSBC were worth $758,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its holdings in HSBC by 58.2% in the fourth quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after buying an additional 210 shares during the last quarter. Huntington National Bank boosted its position in HSBC by 11.9% during the third 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 during the period. Wealth Enhancement Advisory Services LLC boosted its position in HSBC by 1.1% during the fourth 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 during the period. Sonoma Private Wealth LLC boosted its position in HSBC by 3.9% during the fourth 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 during the period. Finally, Abel Hall LLC boosted its position in HSBC by 4.3% during the third 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 during the period. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analysts Set New Price Targets

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

HSBC Stock Up 2.6 %

Shares of HSBC stock opened at $57.08 on Friday. The stock has a market cap of $203.60 billion, a P/E ratio of 9.21, a price-to-earnings-growth ratio of 1.05 and a beta of 0.51. HSBC Holdings plc has a one year low of $38.34 and a one year high of $61.88. The stock has a fifty day moving average price of $53.97 and a 200 day moving average price of $48.74. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96.

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

HSBC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 7th will be given a $1.80 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $7.20 annualized dividend and a yield of 12.61%. HSBC’s dividend payout ratio (DPR) is currently 115.81%.

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.