Summit Global Investments Buys Shares of 31,540 HSBC Holdings plc (NYSE:HSBC)

Summit Global Investments acquired a new position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 31,540 shares of the financial services provider's stock, valued at approximately $1,560,000.

Several other hedge funds have also modified their holdings of HSBC. Berbice Capital Management LLC purchased a new stake in shares of HSBC during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC increased its holdings in HSBC by 58.2% during the 4th 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 during the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of HSBC during the fourth quarter worth approximately $30,000. Larson Financial Group LLC increased its position in shares of HSBC by 138.5% in the 3rd 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 during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of HSBC during the fourth quarter worth about $49,000. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Stock Performance

Shares of NYSE:HSBC traded up $0.39 during midday trading on Tuesday, hitting $58.37. The company's stock had a trading volume of 1,519,628 shares, compared to its average volume of 1,653,412. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.88. The stock's 50 day simple moving average is $55.04 and its 200 day simple moving average is $49.37. The stock has a market capitalization of $207.84 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 1.05 and a beta of 0.51. HSBC Holdings plc has a fifty-two week low of $38.94 and a fifty-two week high of $61.88.

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

HSBC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 7th will be issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 12.34%. The ex-dividend date is Friday, March 7th. HSBC's dividend payout ratio is currently 115.81%.

Analyst Upgrades and Downgrades

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

About HSBC

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.