Ritholtz Wealth Management Acquires 29,637 Shares of HSBC Holdings plc (NYSE:HSBC)

Ritholtz Wealth Management raised its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 41.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,449 shares of the financial services provider’s stock after purchasing an additional 29,637 shares during the quarter. Ritholtz Wealth Management’s holdings in HSBC were worth $4,413,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Richardson Financial Services Inc. purchased a new position in HSBC during the 4th quarter worth $27,000. Family Firm Inc. purchased a new position in HSBC during the 2nd quarter worth $36,000. Rise Advisors LLC purchased a new position in HSBC during the 1st quarter worth $34,000. Benjamin F. Edwards & Company Inc. boosted its holdings in HSBC by 38.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 940 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 263 shares during the last quarter. Finally, RFP Financial Group LLC boosted its holdings in HSBC by 126.1% during the 1st 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 last quarter. Institutional investors own 1.48% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Dbs Bank raised shares of HSBC to a “strong-buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, HSBC presently has an average rating of “Hold”.

HSBC Price Performance

Shares of HSBC traded up $0.35 during midday trading on Friday, hitting $44.46. 1,325,743 shares of the company traded hands, compared to its average volume of 1,500,585. The stock has a 50-day moving average of $43.09 and a 200-day moving average of $42.06. HSBC Holdings plc has a one year low of $35.30 and a one year high of $45.53. The firm has a market cap of $164.25 billion, a P/E ratio of 7.67, a PEG ratio of 0.97 and a beta of 0.58. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.89 and a quick ratio of 0.96.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share for the quarter. The company had revenue of $16.54 billion for the quarter. HSBC had a net margin of 15.61% and a return on equity of 10.60%. As a group, sell-side analysts predict that HSBC Holdings plc will post 5.74 EPS for the current fiscal year.

HSBC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Friday, August 16th. HSBC’s dividend payout ratio is currently 34.14%.

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.