Contrarian Capital Management L.L.C. Takes $11.91 Million Position in HSBC Holdings plc (NYSE:HSBC)

Contrarian Capital Management L.L.C. purchased a new position in HSBC Holdings plc (NYSE:HSBC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 240,876 shares of the financial services provider's stock, valued at approximately $11,914,000. HSBC comprises 4.0% of Contrarian Capital Management L.L.C.'s investment portfolio, making the stock its 7th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Berbice Capital Management LLC bought a new stake in HSBC in the 4th quarter valued at $25,000. Venturi Wealth Management LLC increased 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 valued at $28,000 after acquiring an additional 210 shares during the period. Whipplewood Advisors LLC acquired a new position in HSBC in the fourth quarter worth about $30,000. Brooklyn Investment Group bought a new position in HSBC during the fourth quarter worth about $49,000. Finally, Sierra Ocean LLC bought a new stake in shares of HSBC in the 4th quarter valued at approximately $73,000. Institutional investors own 1.48% of the company's stock.

HSBC Trading Up 4.1 %

Shares of NYSE HSBC traded up $2.19 during midday trading on Wednesday, hitting $56.20. The stock had a trading volume of 1,959,967 shares, compared to its average volume of 1,744,483. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96. HSBC Holdings plc has a fifty-two week low of $39.42 and a fifty-two week high of $61.88. The firm has a market cap of $200.13 billion, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 1.05 and a beta of 0.40. The company's 50-day simple moving average is $55.36 and its 200 day simple moving average is $50.64.

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

HSBC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 7th will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 12.81%. The ex-dividend date of this dividend is Friday, March 7th. HSBC's payout ratio is 115.81%.

Analyst Upgrades and Downgrades

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

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.