Choate Investment Advisors Purchases Shares of 5,931 HSBC Holdings plc (NYSE:HSBC)

Choate Investment Advisors purchased a new stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 5,931 shares of the financial services provider's stock, valued at approximately $293,000.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in HSBC by 58.2% during the fourth quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider's stock worth $28,000 after buying an additional 210 shares in the last quarter. Huntington National Bank lifted its position in shares of HSBC by 11.9% during the 3rd quarter. Huntington National Bank now owns 2,122 shares of the financial services provider's stock valued at $96,000 after acquiring an additional 226 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of HSBC by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,909 shares of the financial services provider's stock worth $990,000 after acquiring an additional 235 shares in the last quarter. Sonoma Private Wealth LLC lifted its holdings in shares of HSBC by 3.9% during the fourth quarter. Sonoma Private Wealth LLC now owns 6,635 shares of the financial services provider's stock valued at $328,000 after purchasing an additional 250 shares during the last quarter. Finally, Abel Hall LLC raised its holdings in HSBC by 4.3% during the 3rd quarter. Abel Hall LLC now owns 6,221 shares of the financial services provider's stock worth $281,000 after buying an additional 257 shares during the period. 1.48% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of HSBC from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. Royal Bank of Canada restated a "sector perform" rating on shares of HSBC in a report on Monday, February 3rd. StockNews.com upgraded HSBC from a "sell" rating to a "hold" rating in a report on Tuesday, March 11th. Barclays raised HSBC from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, March 4th. Finally, UBS Group reiterated a "neutral" rating on shares of HSBC in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, HSBC presently has a consensus rating of "Moderate Buy".

HSBC Stock Up 0.5 %

Shares of NYSE HSBC traded up $0.26 during mid-day trading on Friday, reaching $57.87. The company had a trading volume of 2,156,437 shares, compared to its average volume of 1,655,070. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.88. HSBC Holdings plc has a twelve month low of $38.94 and a twelve month high of $61.88. The stock's 50 day moving average is $54.69 and its 200-day moving average is $49.10. The stock has a market capitalization of $206.08 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 1.05 and a beta of 0.51.

HSBC (NYSE:HSBC - Get Free Report) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.04. The company had revenue of $11.56 billion for the quarter, compared to analyst estimates of $13.79 billion. HSBC had a return on equity of 12.20% and a net margin of 16.17%. As a group, equities analysts anticipate that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 7th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $7.20 annualized dividend and a dividend yield of 12.44%. HSBC's dividend payout ratio (DPR) 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.