Hennessy Advisors Inc. lowered its stake in HSBC Holdings plc (NYSE:HSBC – Free Report) 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 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”.
Read Our Latest Stock Report on HSBC
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.
Featured Stories
- Five stocks we like better than HSBC
- What Are the FAANG Stocks and Are They Good Investments?
- Baidu’s Strong Quarter Proves a Smart Pick for Michael Burry
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- Intuit Beats Q4 Earnings: AI, Dividends, and a Growth Strategy
- What Are Growth Stocks and Investing in Them
- Ross Stores Investors Win Big as Off-Price Retailers Outperform
Want to see what other hedge funds are holding HSBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HSBC Holdings plc (NYSE:HSBC – Free Report).
Receive News & Ratings for HSBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HSBC and related companies with MarketBeat.com's FREE daily email newsletter.