HSBC Holdings plc (NYSE:HSBC) Shares Purchased by Pzena Investment Management LLC

Pzena Investment Management LLC lifted its position in shares of HSBC Holdings plc (NYSE:HSBC) by 11.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,250 shares of the financial services provider’s stock after acquiring an additional 1,802 shares during the period. Pzena Investment Management LLC’s holdings in HSBC were worth $903,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Bank of Montreal Can raised its stake in HSBC by 124.3% during the 3rd quarter. Bank of Montreal Can now owns 171,416 shares of the financial services provider’s stock valued at $7,820,000 after acquiring an additional 94,991 shares in the last quarter. Wealthstar Advisors LLC acquired a new position in shares of HSBC during the fourth quarter valued at $664,000. Entropy Technologies LP bought a new position in HSBC in the 4th quarter valued at about $701,000. Ritholtz Wealth Management increased its stake in HSBC by 12.3% during the 4th quarter. Ritholtz Wealth Management now owns 141,108 shares of the financial services provider’s stock valued at $6,979,000 after buying an additional 15,510 shares during the period. Finally, Perigon Wealth Management LLC acquired a new stake in shares of HSBC in the 4th quarter worth approximately $244,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on HSBC. Barclays raised HSBC from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. Royal Bank of Canada restated a “sector perform” rating on shares of HSBC in a report on Monday, February 3rd. UBS Group reaffirmed a “neutral” rating on shares of HSBC in a report on Thursday, March 6th. StockNews.com raised shares of HSBC from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut shares of HSBC from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

HSBC Stock Performance

Shares of NYSE HSBC opened at $55.42 on Wednesday. HSBC Holdings plc has a 52-week low of $37.38 and a 52-week high of $61.88. The stock has a market capitalization of $197.70 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 1.05 and a beta of 0.51. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $53.55 and its 200 day simple moving average is $48.52.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.04. The firm had revenue of $11.56 billion for the quarter, compared to the consensus estimate of $13.79 billion. HSBC had a return on equity of 12.20% and a net margin of 16.17%. As a group, sell-side analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 7th will be paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 12.99%. The ex-dividend date is Friday, March 7th. HSBC’s dividend payout ratio is 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.