Choreo LLC Takes $862,000 Position in HSBC Holdings plc (NYSE:HSBC)

Choreo LLC bought a new position in HSBC Holdings plc (NYSE:HSBC) during the 2nd quarter, Holdings Channel reports. The fund bought 19,686 shares of the financial services provider’s stock, valued at approximately $862,000.

A number of other hedge funds also recently bought and sold shares of the business. Richardson Financial Services Inc. purchased a new stake in HSBC in the 4th quarter worth approximately $27,000. Rise Advisors LLC purchased a new stake in HSBC in the first quarter worth $34,000. Family Firm Inc. bought a new stake in HSBC in the second quarter valued at $36,000. RFP Financial Group LLC increased its position in HSBC by 126.1% during the 1st quarter. RFP Financial Group LLC now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 575 shares during the period. Finally, Ridgewood Investments LLC bought a new position in HSBC in the 2nd quarter worth $47,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Dbs Bank raised shares of HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, HSBC currently has an average rating of “Hold”.

HSBC Trading Up 0.7 %

HSBC opened at $43.64 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.89 and a debt-to-equity ratio of 0.65. HSBC Holdings plc has a 52 week low of $35.30 and a 52 week high of $45.53. The stock has a market cap of $161.22 billion, a PE ratio of 7.52, a PEG ratio of 0.94 and a beta of 0.56. The business has a 50 day moving average of $43.03 and a 200-day moving average of $42.35.

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

HSBC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Friday, August 16th. HSBC’s dividend payout ratio (DPR) is presently 34.14%.

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.