Eagle Asset Management Inc. Decreases Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

Eagle Asset Management Inc. lessened its stake in HSBC Holdings plc (NYSE:HSBC) by 26.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,494 shares of the financial services provider’s stock after selling 7,134 shares during the period. Eagle Asset Management Inc.’s holdings in HSBC were worth $876,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Family Firm Inc. purchased a new stake in HSBC during the second quarter valued at $36,000. Ridgewood Investments LLC bought a new stake in shares of HSBC during the 2nd quarter valued at about $47,000. Fifth Third Bancorp increased its position in shares of HSBC by 128.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 765 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of HSBC by 40.9% in the third quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock worth $62,000 after buying an additional 397 shares during the last quarter. Finally, Addison Advisors LLC grew its position in HSBC by 39.0% during the second quarter. Addison Advisors LLC now owns 1,458 shares of the financial services provider’s stock valued at $63,000 after buying an additional 409 shares during the period. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

HSBC Stock Performance

Shares of HSBC opened at $46.49 on Tuesday. HSBC Holdings plc has a 52 week low of $36.93 and a 52 week high of $47.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market cap of $168.38 billion, a price-to-earnings ratio of 7.68 and a beta of 0.56. The business has a 50-day simple moving average of $45.23 and a two-hundred day simple moving average of $44.10.

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 issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Friday, November 8th. HSBC’s dividend payout ratio is currently 32.73%.

Analyst Ratings Changes

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

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.