Old Port Advisors Purchases 1,406 Shares of HSBC Holdings plc (NYSE:HSBC)

Old Port Advisors raised its position in HSBC Holdings plc (NYSE:HSBC – Get Rating) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,060 shares of the financial services provider’s stock after buying an additional 1,406 shares during the quarter. Old Port Advisors’ holdings in HSBC were worth $2,245,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HSBC. Envestnet Asset Management Inc. grew its holdings in shares of HSBC by 118.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 469,434 shares of the financial services provider’s stock valued at $12,238,000 after purchasing an additional 254,841 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of HSBC by 7.0% during the 3rd quarter. Evergreen Capital Management LLC now owns 16,696 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 1,095 shares during the last quarter. Clarius Group LLC grew its holdings in shares of HSBC by 40.6% during the 3rd quarter. Clarius Group LLC now owns 16,721 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 4,825 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of HSBC by 5.0% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 78,849 shares of the financial services provider’s stock valued at $2,576,000 after purchasing an additional 3,731 shares during the last quarter. Finally, Crumly & Associates Inc. grew its holdings in shares of HSBC by 14.8% during the 3rd quarter. Crumly & Associates Inc. now owns 9,594 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 1,237 shares during the last quarter. 1.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HSBC has been the topic of several research reports. Jefferies Financial Group raised shares of HSBC from a “hold” rating to a “buy” rating in a report on Thursday, January 5th. Barclays lifted their target price on shares of HSBC from GBX 780 ($9.51) to GBX 840 ($10.24) in a research report on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of HSBC from a “hold” rating to a “buy” rating in a research report on Monday, January 16th. StockNews.com assumed coverage on shares of HSBC in a research report on Thursday. They set a “hold” rating on the stock. Finally, Berenberg Bank lifted their target price on shares of HSBC from GBX 625 ($7.62) to GBX 780 ($9.51) in a research report on Thursday, February 23rd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, HSBC presently has an average rating of “Hold” and an average target price of $678.22.

HSBC Stock Down 4.1 %

Shares of NYSE HSBC opened at $33.08 on Friday. The company has a market capitalization of $130.60 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 0.34 and a beta of 0.60. HSBC Holdings plc has a 52-week low of $24.77 and a 52-week high of $39.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.90 and a current ratio of 0.90. The company’s 50 day moving average price is $36.57 and its 200-day moving average price is $31.60.

HSBC Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 27th. Stockholders of record on Friday, March 3rd will be given a $1.15 dividend. The ex-dividend date is Thursday, March 2nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 13.91%. This is an increase from HSBC’s previous quarterly dividend of $0.45. HSBC’s payout ratio is 43.21%.

HSBC Company Profile

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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.