Frank Rimerman Advisors LLC Purchases 826 Shares of HSBC Holdings plc $HSBC

Frank Rimerman Advisors LLC grew its position in shares of HSBC Holdings plc (NYSE:HSBC) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,160 shares of the financial services provider’s stock after acquiring an additional 826 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in HSBC were worth $982,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Contrarian Capital Management L.L.C. boosted its holdings in HSBC by 425.4% during the first quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider’s stock worth $72,687,000 after purchasing an additional 1,024,780 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in HSBC by 729.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,953 shares of the financial services provider’s stock valued at $22,280,000 after buying an additional 341,187 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in HSBC during the 1st quarter worth about $17,430,000. Royal Bank of Canada boosted its stake in shares of HSBC by 18.7% during the 1st quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider’s stock worth $60,155,000 after buying an additional 164,915 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of HSBC by 175.6% in the 2nd quarter. Bank of Montreal Can now owns 209,666 shares of the financial services provider’s stock valued at $12,746,000 after acquiring an additional 133,591 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Trading Down 2.2%

Shares of HSBC stock opened at $69.64 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.93. The business has a fifty day simple moving average of $69.50 and a two-hundred day simple moving average of $64.37. HSBC Holdings plc has a 1 year low of $45.59 and a 1 year high of $74.17. The company has a market capitalization of $240.31 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 1.30 and a beta of 0.64.

HSBC (NYSE:HSBC) last issued its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.15. The company had revenue of $17.90 billion for the quarter, compared to analyst estimates of $16.78 billion. HSBC had a net margin of 12.85% and a return on equity of 12.78%. Research analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, November 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.9%. This is a boost from HSBC’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, November 7th. HSBC’s dividend payout ratio (DPR) is 41.68%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of HSBC in a research report on Thursday, November 13th. Zacks Research raised shares of HSBC from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of HSBC in a research report on Friday, October 10th. BNP Paribas upgraded shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. Finally, BNP Paribas Exane upgraded shares of HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.