Wedbush Securities Inc. Has $985,000 Position in HSBC Holdings plc (NYSE:HSBC)

Wedbush Securities Inc. lessened its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 19.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 22,652 shares of the financial services provider’s stock after selling 5,465 shares during the quarter. Wedbush Securities Inc.’s holdings in HSBC were worth $985,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HSBC. Mission Wealth Management LP boosted its position in shares of HSBC by 21.5% in the first quarter. Mission Wealth Management LP now owns 6,311 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 1,115 shares during the period. Wedmont Private Capital acquired a new position in HSBC during the 1st quarter valued at $203,000. Pitcairn Co. bought a new stake in HSBC in the 1st quarter valued at $567,000. Insight Folios Inc acquired a new stake in HSBC in the 1st quarter worth $4,589,000. Finally, Founders Financial Securities LLC bought a new position in shares of HSBC during the 1st quarter worth about $684,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Down 1.6 %

HSBC opened at $43.06 on Wednesday. The company has a market capitalization of $159.08 billion, a P/E ratio of 7.42, a P/E/G ratio of 0.93 and a beta of 0.56. 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 firm’s fifty day moving average price is $43.06 and its two-hundred day moving average price is $42.30. HSBC Holdings plc has a fifty-two week low of $35.30 and a fifty-two week high of $45.53.

HSBC (NYSE:HSBC) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share for the quarter. The business had revenue of $16.54 billion for the quarter. HSBC had a net margin of 15.61% and a return on equity of 10.60%. On average, analysts anticipate that HSBC Holdings plc will post 5.74 EPS for the current year.

HSBC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 annualized dividend and a yield of 4.64%. HSBC’s dividend payout ratio is currently 34.14%.

Analyst Ratings Changes

Separately, Dbs Bank raised HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

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.