Pillar Pacific Capital Management LLC cut its position in shares of HSBC Holdings PLC (NYSE:HSBC) by 19.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,310 shares of the financial services provider’s stock after selling 7,129 shares during the period. Pillar Pacific Capital Management LLC’s holdings in HSBC Holdings PLC were worth $1,406,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the company. Klingenstein Fields & Co. LLC bought a new stake in HSBC Holdings PLC during the second quarter valued at about $204,000. Parkside Financial Bank & Trust raised its stake in HSBC Holdings PLC by 0.7% in the second quarter. Parkside Financial Bank & Trust now owns 5,960 shares of the financial services provider’s stock valued at $276,000 after buying an additional 40 shares during the period. American Trust Investment Advisors LLC raised its stake in HSBC Holdings PLC by 18.8% in the second quarter. American Trust Investment Advisors LLC now owns 7,320 shares of the financial services provider’s stock valued at $340,000 after buying an additional 1,160 shares during the period. Park Avenue Securities LLC bought a new stake in HSBC Holdings PLC during the second quarter valued at about $243,000. Finally, Moloney Securities Asset Management LLC raised its stake in HSBC Holdings PLC by 10.4% in the second quarter. Moloney Securities Asset Management LLC now owns 23,920 shares of the financial services provider’s stock valued at $1,110,000 after buying an additional 2,259 shares during the period. 2.33% of the stock is currently owned by institutional investors.
HSBC Holdings PLC (HSBC) traded down 0.87% during mid-day trading on Friday, reaching $47.77. The company had a trading volume of 1,403,634 shares. The stock has a market capitalization of $193.65 billion, a P/E ratio of 97.49 and a beta of 0.89. HSBC Holdings PLC has a 12-month low of $35.24 and a 12-month high of $50.86. The stock has a 50 day moving average price of $47.98 and a 200-day moving average price of $43.59.
HSBC Holdings PLC (NYSE:HSBC) last posted its earnings results on Monday, July 31st. The financial services provider reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.08. HSBC Holdings PLC had a return on equity of 2.08% and a net margin of 1.42%. The business had revenue of $13.17 billion during the quarter. Equities analysts anticipate that HSBC Holdings PLC will post $2.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Friday, August 4th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.19%. The ex-dividend date is Wednesday, August 2nd. HSBC Holdings PLC’s payout ratio is 400.01%.
HSBC has been the topic of several analyst reports. Zacks Investment Research lowered HSBC Holdings PLC from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub raised HSBC Holdings PLC from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Morgan Stanley raised HSBC Holdings PLC from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, June 28th. Finally, Berenberg Bank lowered HSBC Holdings PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. HSBC Holdings PLC has an average rating of “Hold” and a consensus target price of $36.67.
About HSBC Holdings PLC
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.
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