Bank of New York Mellon Corp Sells 8,108 Shares of HSBC Holdings plc (NYSE:HSBC)

Bank of New York Mellon Corp decreased its position in shares of HSBC Holdings plc (NYSE:HSBC) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 168,764 shares of the financial services provider’s stock after selling 8,108 shares during the period. Bank of New York Mellon Corp’s holdings in HSBC were worth $6,686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Argonautica Private Wealth Management Inc. raised its position in shares of HSBC by 30.9% during the second quarter. Argonautica Private Wealth Management Inc. now owns 9,526 shares of the financial services provider’s stock valued at $377,000 after buying an additional 2,247 shares during the last quarter. MAI Capital Management raised its position in shares of HSBC by 1.8% during the second quarter. MAI Capital Management now owns 26,450 shares of the financial services provider’s stock valued at $1,048,000 after buying an additional 479 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of HSBC during the second quarter valued at approximately $5,884,000. Signaturefd LLC grew its holdings in shares of HSBC by 26.3% in the second quarter. Signaturefd LLC now owns 37,160 shares of the financial services provider’s stock valued at $1,472,000 after purchasing an additional 7,747 shares in the last quarter. Finally, Keybank National Association OH purchased a new position in shares of HSBC in the second quarter valued at $216,000. Institutional investors own 1.48% of the company’s stock.

HSBC Stock Up 0.4 %

Shares of HSBC opened at $38.74 on Tuesday. The firm has a market capitalization of $155.21 billion, a P/E ratio of 5.61, a P/E/G ratio of 0.30 and a beta of 0.60. HSBC Holdings plc has a 12-month low of $28.51 and a 12-month high of $42.47. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average price of $38.61 and a 200-day moving average price of $38.82.

HSBC (NYSE:HSBC) last released its quarterly earnings data on Monday, October 30th. The financial services provider reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.07). The firm had revenue of $34.11 billion during the quarter. HSBC had a net margin of 24.42% and a return on equity of 14.04%. During the same period in the prior year, the firm earned $0.48 EPS. Equities research analysts expect that HSBC Holdings plc will post 6.74 earnings per share for the current year.

HSBC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, November 10th will be issued a $0.50 dividend. The ex-dividend date is Thursday, November 9th. This represents a $2.00 annualized dividend and a dividend yield of 5.16%. HSBC’s payout ratio is currently 28.70%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HSBC. Morgan Stanley raised their target price on shares of HSBC from GBX 675 ($8.44) to GBX 722 ($9.03) in a report on Tuesday, August 1st. JPMorgan Chase & Co. raised shares of HSBC from a “neutral” rating to an “overweight” rating in a report on Monday, August 7th. Berenberg Bank raised their target price on shares of HSBC from GBX 780 ($9.76) to GBX 820 ($10.26) in a report on Thursday, August 3rd. Societe Generale lowered shares of HSBC from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, The Goldman Sachs Group raised shares of HSBC from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $811.00.

HSBC Profile

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.