TruNorth Capital Management LLC Buys New Holdings in HSBC Holdings plc (NYSE:HSBC)

TruNorth Capital Management LLC purchased a new position in shares of HSBC Holdings plc (NYSE:HSBC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,000 shares of the financial services provider’s stock, valued at approximately $198,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in shares of HSBC by 23.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,341 shares of the financial services provider’s stock valued at $829,000 after purchasing an additional 3,451 shares during the period. Private Advisor Group LLC grew its stake in HSBC by 1.2% in the 3rd quarter. Private Advisor Group LLC now owns 26,715 shares of the financial services provider’s stock valued at $1,207,000 after buying an additional 318 shares during the last quarter. International Assets Investment Management LLC bought a new position in HSBC in the 3rd quarter valued at about $54,770,000. Allworth Financial LP boosted its holdings in shares of HSBC by 40.9% during the third quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 397 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of HSBC by 2.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 21,674 shares of the financial services provider’s stock valued at $979,000 after purchasing an additional 542 shares during the last quarter. Institutional investors own 1.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HSBC shares. 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 reissued a “sector perform” rating on shares of HSBC in a research report on Monday, February 3rd.

HSBC Stock Down 0.7 %

Shares of HSBC opened at $55.70 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69. HSBC Holdings plc has a 12 month low of $36.93 and a 12 month high of $57.08. The firm’s 50 day moving average is $51.40 and its 200-day moving average is $47.28. The stock has a market capitalization of $199.49 billion, a PE ratio of 8.98, a P/E/G ratio of 1.05 and a beta of 0.54.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share for the quarter, beating 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%. Equities research analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 7th will be paid a dividend of $1.80 per share. The ex-dividend date is Friday, March 7th. This represents a $7.20 dividend on an annualized basis and a yield of 12.93%. 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.