Quadrant Capital Group LLC Has $5.85 Million Holdings in HSBC Holdings plc $HSBC

Quadrant Capital Group LLC lessened its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 17.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,273 shares of the financial services provider’s stock after selling 19,761 shares during the period. Quadrant Capital Group LLC’s holdings in HSBC were worth $5,852,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Avantax Advisory Services Inc. raised its holdings in HSBC by 12.7% during the first quarter. Avantax Advisory Services Inc. now owns 15,751 shares of the financial services provider’s stock worth $905,000 after buying an additional 1,778 shares during the last quarter. Assetmark Inc. grew its holdings in HSBC by 53.0% during the first quarter. Assetmark Inc. now owns 5,855 shares of the financial services provider’s stock worth $336,000 after buying an additional 2,028 shares in the last quarter. Pacer Advisors Inc. raised its position in HSBC by 2.4% in the 1st quarter. Pacer Advisors Inc. now owns 31,372 shares of the financial services provider’s stock valued at $1,802,000 after buying an additional 744 shares during the last quarter. HB Wealth Management LLC purchased a new position in HSBC during the 1st quarter worth $349,000. Finally, LPL Financial LLC grew its stake in shares of HSBC by 52.2% in the 1st quarter. LPL Financial LLC now owns 233,650 shares of the financial services provider’s stock worth $13,419,000 after acquiring an additional 80,132 shares in the last quarter. Institutional investors own 1.48% of the company’s stock.

HSBC Stock Up 1.6%

Shares of NYSE HSBC opened at $70.63 on Thursday. The business has a 50-day simple moving average of $69.52 and a two-hundred day simple moving average of $64.85. HSBC Holdings plc has a 52 week low of $45.66 and a 52 week high of $74.17. The company has a market cap of $242.62 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.30 and a beta of 0.64. The company has a quick ratio of 0.93, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $16.78 billion. HSBC had a net margin of 12.85% and a return on equity of 12.78%. Research analysts anticipate that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 7th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 7th. This is an increase from HSBC’s previous quarterly dividend of $0.50. This represents a $2.00 annualized dividend and a dividend yield of 2.8%. HSBC’s payout ratio is currently 41.68%.

Wall Street Analyst Weigh In

HSBC has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HSBC in a report on Tuesday. Zacks Research upgraded shares of HSBC from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Erste Group Bank raised HSBC from a “hold” rating to a “buy” rating in a report on Thursday, November 20th. BNP Paribas Exane raised HSBC from an “underperform” rating to an “outperform” rating in a research report on Friday, September 5th. Finally, Citigroup restated a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

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.