HSBC Holdings plc $HSBC Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its position in HSBC Holdings plc (NYSE:HSBC) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,249 shares of the financial services provider’s stock after selling 1,440 shares during the quarter. Rhumbline Advisers’ holdings in HSBC were worth $1,967,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in HSBC in the 1st quarter valued at about $30,000. Garde Capital Inc. acquired a new position in HSBC in the 1st quarter valued at about $43,000. Elequin Capital LP grew its position in HSBC by 282.2% in the 1st quarter. Elequin Capital LP now owns 772 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 570 shares in the last quarter. Bessemer Group Inc. grew its position in HSBC by 51.0% in the 1st quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 292 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in HSBC by 32.1% in the 1st quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 249 shares in the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Trading Up 1.0%

Shares of HSBC stock opened at $69.63 on Thursday. The business’s fifty day moving average price is $64.60 and its 200 day moving average price is $59.80. HSBC Holdings plc has a 1-year low of $43.72 and a 1-year high of $69.94. The firm has a market capitalization of $241.65 billion, a PE ratio of 13.79, a P/E/G ratio of 1.54 and a beta of 0.65. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.93.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.33. The firm had revenue of $16.90 billion for the quarter, compared to analyst estimates of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. As a group, sell-side analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 15th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, August 15th. HSBC’s dividend payout ratio is currently 39.21%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HSBC shares. BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. BNP Paribas Exane upgraded HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Finally, Bank of America reiterated a “neutral” rating and issued a $63.00 price objective on shares of HSBC in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

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.