Gabelli Funds LLC Has $1.15 Million Holdings in HSBC Holdings plc (NYSE:HSBC)

Gabelli Funds LLC lessened its position in HSBC Holdings plc (NYSE:HSBC) by 18.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 30,000 shares of the financial services provider’s stock after selling 7,000 shares during the period. Gabelli Funds LLC’s holdings in HSBC were worth $1,148,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Weather Gauge Advisory LLC purchased a new position in shares of HSBC during the second quarter valued at approximately $202,000. Cordasco Financial Network boosted its position in shares of HSBC by 57.2% during the second quarter. Cordasco Financial Network now owns 838 shares of the financial services provider’s stock valued at $35,000 after buying an additional 305 shares during the last quarter. Bogart Wealth LLC boosted its position in shares of HSBC by 10.9% during the second quarter. Bogart Wealth LLC now owns 61,006 shares of the financial services provider’s stock valued at $2,546,000 after buying an additional 6,004 shares during the last quarter. Diversified Trust Co boosted its position in shares of HSBC by 6.5% during the second quarter. Diversified Trust Co now owns 20,048 shares of the financial services provider’s stock valued at $837,000 after buying an additional 1,218 shares during the last quarter. Finally, Old Port Advisors boosted its position in shares of HSBC by 7.8% during the second quarter. Old Port Advisors now owns 46,102 shares of the financial services provider’s stock valued at $1,941,000 after buying an additional 3,339 shares during the last quarter. 2.34% of the stock is owned by hedge funds and other institutional investors.

HSBC has been the topic of several analyst reports. Barclays cut HSBC from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, July 17th. UBS Group reiterated a “neutral” rating on shares of HSBC in a report on Tuesday, October 15th. Jefferies Financial Group lowered HSBC from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Berenberg Bank lowered HSBC from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Finally, ValuEngine upgraded HSBC from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. HSBC currently has an average rating of “Hold” and a consensus price target of $43.80.

HSBC stock traded down $0.59 during mid-day trading on Monday, reaching $37.65. 393,553 shares of the company’s stock were exchanged, compared to its average volume of 2,159,310. The business’s fifty day simple moving average is $38.20 and its 200 day simple moving average is $39.79. The firm has a market capitalization of $155.72 billion, a PE ratio of 11.95, a P/E/G ratio of 7.30 and a beta of 0.71. HSBC Holdings plc has a one year low of $35.35 and a one year high of $44.93. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

HSBC (NYSE:HSBC) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.40). The firm had revenue of $13.27 billion during the quarter, compared to the consensus estimate of $14.09 billion. HSBC had a net margin of 23.48% and a return on equity of 6.65%. On average, sell-side analysts forecast that HSBC Holdings plc will post 3.68 earnings per share for the current year.

HSBC Profile

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

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Institutional Ownership by Quarter for HSBC (NYSE:HSBC)

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