MAI Capital Management Trims Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

MAI Capital Management lowered its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 30.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 21,565 shares of the financial services provider’s stock after selling 9,568 shares during the period. MAI Capital Management’s holdings in HSBC were worth $975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Mediolanum International Funds Ltd purchased a new position in HSBC during the third quarter valued at approximately $139,895,000. International Assets Investment Management LLC purchased a new position in shares of HSBC during the 3rd quarter valued at $54,770,000. Natixis Advisors LLC raised its position in shares of HSBC by 22.1% in the second quarter. Natixis Advisors LLC now owns 413,789 shares of the financial services provider’s stock worth $18,000,000 after buying an additional 74,980 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in HSBC by 15.7% during the third quarter. Crossmark Global Holdings Inc. now owns 500,547 shares of the financial services provider’s stock valued at $22,620,000 after buying an additional 67,941 shares during the period. Finally, Meritage Portfolio Management grew its position in HSBC by 28.9% during the third quarter. Meritage Portfolio Management now owns 301,813 shares of the financial services provider’s stock worth $13,639,000 after buying an additional 67,617 shares in the last quarter. 1.48% of the stock is owned by institutional investors.

HSBC Price Performance

Shares of NYSE:HSBC opened at $46.34 on Friday. HSBC Holdings plc has a one year low of $36.93 and a one year high of $47.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $101.60 billion, a price-to-earnings ratio of 7.66 and a beta of 0.56. The company’s fifty day moving average price is $45.12 and its 200-day moving average price is $44.09.

HSBC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Friday, November 8th. HSBC’s dividend payout ratio (DPR) is currently 32.73%.

Wall Street Analysts Forecast Growth

Separately, Dbs Bank upgraded HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st.

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.