Cornerstone Advisors Inc. Cuts Stake in HSBC Holdings plc (NYSE:HSBC)

Cornerstone Advisors Inc. lowered its position in shares of HSBC Holdings plc (NYSE:HSBC) by 49.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,148 shares of the financial services provider’s stock after selling 2,069 shares during the quarter. Cornerstone Advisors Inc.’s holdings in HSBC were worth $50,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in HSBC. Lindbrook Capital LLC boosted its position in shares of HSBC by 42.2% in the second quarter. Lindbrook Capital LLC now owns 2,388 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 709 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of HSBC by 72.9% in the second quarter. SG Americas Securities LLC now owns 237,315 shares of the financial services provider’s stock worth $5,537,000 after acquiring an additional 100,056 shares during the last quarter. Selective Wealth Management Inc. acquired a new stake in shares of HSBC in the second quarter worth approximately $44,000. Moody National Bank Trust Division boosted its position in shares of HSBC by 7.3% in the second quarter. Moody National Bank Trust Division now owns 13,728 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 928 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its holdings in HSBC by 235.7% in the second quarter. FNY Investment Advisers LLC now owns 28,900 shares of the financial services provider’s stock valued at $674,000 after buying an additional 20,291 shares during the period. Institutional investors own 1.67% of the company’s stock.

Shares of NYSE:HSBC opened at $22.65 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $23.74 and a 200 day simple moving average of $28.55. The firm has a market cap of $92.71 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 0.86 and a beta of 0.60. HSBC Holdings plc has a 12-month low of $22.34 and a 12-month high of $40.38.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.22). The company had revenue of $13.33 billion during the quarter. HSBC had a return on equity of 5.87% and a net margin of 6.54%. As a group, equities research analysts forecast that HSBC Holdings plc will post 1.73 EPS for the current fiscal year.

Several research firms recently commented on HSBC. ValuEngine upgraded shares of HSBC from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. UBS Group restated a “neutral” rating on shares of HSBC in a report on Friday, July 10th. Berenberg Bank upgraded shares of HSBC from a “sell” rating to a “hold” rating in a report on Thursday, May 14th. Zacks Investment Research upgraded shares of HSBC from a “strong sell” rating to a “hold” rating and set a $24.00 price objective on the stock in a research note on Friday. Finally, Jefferies Financial Group lowered shares of HSBC from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Ten research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.00.

HSBC Company 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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