HSBC Holdings plc $HSBC Shares Sold by May Hill Capital LLC

May Hill Capital LLC cut its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 2.0% during the second quarter, HoldingsChannel.com reports. The firm owned 11,040 shares of the financial services provider’s stock after selling 230 shares during the period. May Hill Capital LLC’s holdings in HSBC were worth $671,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in HSBC. GAMMA Investing LLC increased its position in HSBC by 24.7% during the 1st quarter. GAMMA Investing LLC now owns 9,739 shares of the financial services provider’s stock valued at $559,000 after buying an additional 1,929 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of HSBC by 6.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 29,391 shares of the financial services provider’s stock worth $1,688,000 after acquiring an additional 1,897 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of HSBC by 8.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,735 shares of the financial services provider’s stock valued at $674,000 after acquiring an additional 959 shares in the last quarter. Spire Wealth Management raised its position in shares of HSBC by 59.4% in the 1st quarter. Spire Wealth Management now owns 1,320 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 492 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in HSBC by 51.0% in the 1st quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 292 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Performance

Shares of HSBC stock opened at $67.17 on Tuesday. HSBC Holdings plc has a 52-week low of $44.40 and a 52-week high of $72.21. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The stock has a market cap of $231.78 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 1.76 and a beta of 0.62. The business has a 50-day simple moving average of $67.53 and a 200-day simple moving average of $62.34.

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

HSBC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 15th were issued a dividend of $0.495 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.98 dividend on an annualized basis and a yield of 2.9%. HSBC’s dividend payout ratio is 39.21%.

Analyst Ratings Changes

A number of research firms have issued reports on HSBC. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. Citigroup reiterated a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. Jefferies Financial Group restated a “hold” rating on shares of HSBC in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of HSBC in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, HSBC currently has an average rating of “Hold” and a consensus target price of $63.00.

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.