HSBC Holdings plc (NYSE:HSBC) Position Increased by Parallel Advisors LLC

Parallel Advisors LLC increased its stake in HSBC Holdings plc (NYSE:HSBC) by 13.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,079 shares of the financial services provider’s stock after purchasing an additional 1,180 shares during the period. Parallel Advisors LLC’s holdings in HSBC were worth $438,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its position in HSBC by 4.6% in the 2nd quarter. American Century Companies Inc. now owns 850,842 shares of the financial services provider’s stock valued at $37,012,000 after acquiring an additional 37,781 shares during the period. Natixis Advisors LLC increased its position in HSBC by 22.1% in the 2nd quarter. Natixis Advisors LLC now owns 413,789 shares of the financial services provider’s stock valued at $18,000,000 after acquiring an additional 74,980 shares during the period. Raymond James & Associates increased its position in HSBC by 2.6% in the 2nd quarter. Raymond James & Associates now owns 361,416 shares of the financial services provider’s stock valued at $15,722,000 after acquiring an additional 9,323 shares during the period. QRG Capital Management Inc. increased its position in HSBC by 19.0% in the 2nd quarter. QRG Capital Management Inc. now owns 302,994 shares of the financial services provider’s stock valued at $13,180,000 after acquiring an additional 48,366 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its position in HSBC by 28.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 176,352 shares of the financial services provider’s stock valued at $6,941,000 after acquiring an additional 39,344 shares during the period. Institutional investors own 1.48% of the company’s stock.

Wall Street Analysts Forecast Growth

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

HSBC Stock Up 0.0 %

Shares of HSBC stock opened at $43.70 on Wednesday. HSBC Holdings plc has a 1 year low of $35.30 and a 1 year high of $45.53. The stock has a market cap of $161.44 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 0.94 and a beta of 0.56. The business’s fifty day moving average is $43.05 and its 200-day moving average is $42.47. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 0.89.

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

HSBC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend 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%.

HSBC Company 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.