HSBC Holdings plc (NYSE:HSBC) Position Increased by Drive Wealth Management LLC

Drive Wealth Management LLC raised its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,036 shares of the financial services provider’s stock after buying an additional 265 shares during the period. Drive Wealth Management LLC’s holdings in HSBC were worth $348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Berbice Capital Management LLC purchased a new stake in HSBC in the 4th quarter worth approximately $25,000. Larson Financial Group LLC raised its holdings in 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 acquiring an additional 450 shares during the period. Brooklyn Investment Group bought a new position in HSBC in the 4th quarter worth $49,000. Allworth Financial LP raised its holdings in HSBC by 40.9% in the 3rd quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 397 shares during the period. Finally, Versant Capital Management Inc grew its position in HSBC by 116.2% in the 4th quarter. Versant Capital Management Inc now owns 1,498 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 805 shares during the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Performance

NYSE HSBC opened at $52.11 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $186.64 billion, a price-to-earnings ratio of 8.61, a P/E/G ratio of 1.35 and a beta of 0.54. The company’s fifty day moving average is $48.57 and its two-hundred day moving average is $45.62. HSBC Holdings plc has a 52-week low of $36.93 and a 52-week high of $52.14.

HSBC (NYSE:HSBC) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $1.70 earnings per share for the quarter. HSBC had a net margin of 15.70% and a return on equity of 10.71%. The business had revenue of $36.62 billion for the quarter. During the same quarter last year, the firm posted $1.45 earnings per share. Equities research analysts forecast that HSBC Holdings plc will post 6.67 EPS for the current year.

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.