Pitcairn Co. Lowers Holdings in HSBC Holdings plc (NYSE:HSBC)

Pitcairn Co. trimmed its holdings in HSBC Holdings plc (NYSE:HSBC) by 13.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,343 shares of the financial services provider’s stock after selling 2,194 shares during the quarter. Pitcairn Co.’s holdings in HSBC were worth $648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Family Firm Inc. bought a new position in shares of HSBC during the second quarter worth $36,000. Ridgewood Investments LLC purchased a new stake in HSBC in the 2nd quarter worth $47,000. Fifth Third Bancorp boosted its holdings in shares of HSBC by 128.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 765 shares during the last quarter. Allworth Financial LP increased its holdings in shares of HSBC by 40.9% in the third quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 397 shares during the last quarter. Finally, Addison Advisors LLC lifted its position in shares of HSBC by 39.0% in the second quarter. Addison Advisors LLC now owns 1,458 shares of the financial services provider’s stock worth $63,000 after buying an additional 409 shares in the last quarter. Institutional investors own 1.48% of the company’s stock.

HSBC Price Performance

HSBC stock opened at $46.49 on Tuesday. HSBC Holdings plc has a 52-week low of $36.93 and a 52-week high of $47.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm’s fifty day moving average is $45.23 and its 200 day moving average is $44.10. The company has a market cap of $168.38 billion, a price-to-earnings ratio of 7.68 and a beta of 0.56.

HSBC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Friday, November 8th. HSBC’s dividend payout ratio is 32.73%.

Wall Street Analysts Forecast Growth

Separately, Dbs Bank upgraded HSBC to a “strong-buy” rating in a report on Wednesday, July 31st.

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.