Optas LLC Lowers Stock Holdings in HSBC Holdings plc $HSBC

Optas LLC reduced its position in HSBC Holdings plc (NYSE:HSBC) by 3.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,340 shares of the financial services provider’s stock after selling 328 shares during the period. Optas LLC’s holdings in HSBC were worth $568,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in shares of HSBC by 1.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock valued at $271,438,000 after purchasing an additional 53,072 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in shares of HSBC in the 1st quarter valued at $391,000. Acadian Asset Management LLC boosted its holdings in shares of HSBC by 254.2% in the 1st quarter. Acadian Asset Management LLC now owns 23,718 shares of the financial services provider’s stock valued at $1,362,000 after purchasing an additional 17,021 shares during the last quarter. Bridgewater Advisors Inc. acquired a new position in shares of HSBC during the 1st quarter valued at $443,000. Finally, Atlas Capital Advisors Inc. lifted its holdings in shares of HSBC by 501.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 12,032 shares of the financial services provider’s stock valued at $691,000 after acquiring an additional 10,031 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Price Performance

Shares of NYSE:HSBC opened at $71.49 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. HSBC Holdings plc has a fifty-two week low of $43.81 and a fifty-two week high of $72.21. The firm has a 50-day simple moving average of $66.72 and a 200 day simple moving average of $61.09. The company has a market cap of $248.11 billion, a PE ratio of 14.16, a P/E/G ratio of 1.58 and a beta of 0.62.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The business had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $16.64 billion. On average, sell-side analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 15th were paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, August 15th. HSBC’s payout ratio is presently 39.21%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on HSBC shares. Citigroup restated a “buy” rating on shares of HSBC in a report on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HSBC in a research note on Wednesday. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. BNP Paribas raised shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. Finally, Zacks Research downgraded shares of HSBC from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

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.