Hennessy Advisors Inc. Has $5.65 Million Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

Hennessy Advisors Inc. lowered its stake in HSBC Holdings plc (NYSE:HSBC) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 129,800 shares of the financial services provider’s stock after selling 2,600 shares during the quarter. Hennessy Advisors Inc.’s holdings in HSBC were worth $5,646,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in HSBC. Richardson Financial Services Inc. bought a new stake in HSBC in the fourth quarter valued at approximately $27,000. Rise Advisors LLC acquired a new stake in HSBC during the 1st quarter worth $34,000. Addison Advisors LLC increased its holdings in shares of HSBC by 74.8% in the fourth quarter. Addison Advisors LLC now owns 895 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 383 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of HSBC by 38.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 940 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 263 shares during the period. Finally, RFP Financial Group LLC lifted its holdings in shares of HSBC by 126.1% during the 1st quarter. RFP Financial Group LLC now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 575 shares in the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Stock Up 0.5 %

HSBC stock opened at $43.25 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.89 and a quick ratio of 0.96. The stock has a market capitalization of $162.23 billion, a P/E ratio of 7.42, a P/E/G ratio of 0.92 and a beta of 0.58. HSBC Holdings plc has a fifty-two week low of $35.30 and a fifty-two week high of $45.53. The business has a 50-day moving average of $43.05 and a 200-day moving average of $41.85.

HSBC (NYSE:HSBC) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share for the quarter. The firm had revenue of $16.54 billion during the quarter. HSBC had a return on equity of 10.60% and a net margin of 15.61%. On average, sell-side analysts anticipate that HSBC Holdings plc will post 5.74 earnings per share for the current fiscal year.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, August 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.62%. HSBC’s dividend payout ratio is 34.14%.

Analysts Set New Price Targets

Separately, Dbs Bank raised HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, HSBC has an average rating of “Hold”.

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.