Choate Investment Advisors Invests $293,000 in HSBC Holdings plc (NYSE:HSBC)

Choate Investment Advisors purchased a new position in HSBC Holdings plc (NYSE:HSBC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,931 shares of the financial services provider’s stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Berbice Capital Management LLC bought a new position in HSBC in the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC grew its stake 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 purchasing an additional 210 shares in the last quarter. Whipplewood Advisors LLC bought a new position in HSBC in the fourth quarter worth approximately $30,000. Larson Financial Group LLC grew its stake in HSBC by 138.5% in the third quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 450 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in HSBC in the fourth quarter worth approximately $49,000. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on HSBC shares. Deutsche Bank Aktiengesellschaft cut HSBC from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. 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 reaffirmed a “neutral” rating on shares of HSBC in a research report on Thursday, March 6th. Finally, Barclays raised HSBC from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, HSBC presently has a consensus rating of “Moderate Buy”.

HSBC Stock Up 1.3 %

HSBC stock opened at $57.83 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96. The stock has a market capitalization of $206.27 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 1.05 and a beta of 0.51. HSBC Holdings plc has a 1-year low of $38.34 and a 1-year high of $61.88. The business has a fifty day moving average price of $54.14 and a 200-day moving average price of $48.87.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 fiscal year.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 12.45%. HSBC’s 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.