Caas Capital Management LP Has $2.24 Million Stake in HSBC Holdings plc (NYSE:HSBC)

Caas Capital Management LP raised its holdings in HSBC Holdings plc (NYSE:HSBC) by 172.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,596 shares of the financial services provider’s stock after buying an additional 31,403 shares during the period. HSBC accounts for about 0.3% of Caas Capital Management LP’s portfolio, making the stock its 23rd largest holding. Caas Capital Management LP’s holdings in HSBC were worth $2,241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new stake in HSBC during the 2nd quarter valued at $36,000. RFP Financial Group LLC boosted its holdings in shares of HSBC by 126.1% during the first quarter. RFP Financial Group LLC now owns 1,031 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 575 shares during the period. Ridgewood Investments LLC acquired a new position in shares of HSBC in the second quarter valued at approximately $47,000. Fifth Third Bancorp lifted its holdings in HSBC by 128.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 765 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in HSBC by 40.9% in the 3rd quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 397 shares during the period. 1.48% of the stock is owned by institutional investors.

HSBC Price Performance

HSBC traded up $0.32 on Friday, hitting $46.45. 250,194 shares of the stock were exchanged, compared to its average volume of 1,711,397. The business has a 50-day moving average of $44.43 and a two-hundred day moving average of $43.66. The firm has a market capitalization of $101.84 billion, a price-to-earnings ratio of 7.62 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.96. HSBC Holdings plc has a 12 month low of $36.63 and a 12 month high of $47.26.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share for the quarter. HSBC had a net margin of 15.70% and a return on equity of 10.71%. The company had revenue of $16.54 billion for the quarter. Sell-side analysts forecast that HSBC Holdings plc will post 6.22 EPS for the current fiscal year.

HSBC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a yield of 4.31%. HSBC’s dividend payout ratio is currently 32.73%.

Analyst Ratings Changes

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

About HSBC

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.