Pitcairn Co. Sells 2,194 Shares of HSBC Holdings plc (NYSE:HSBC)

Pitcairn Co. lessened its stake in HSBC Holdings plc (NYSE:HSBC) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,343 shares of the financial services provider’s stock after selling 2,194 shares during the period. Pitcairn Co.’s holdings in HSBC were worth $648,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Family Firm Inc. bought a new position in shares of HSBC in the 2nd quarter worth approximately $36,000. Ridgewood Investments LLC purchased a new stake in HSBC during the second quarter valued at approximately $47,000. Fifth Third Bancorp boosted its stake in shares of 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 acquiring an additional 765 shares during the last quarter. Allworth Financial LP grew its position in shares of HSBC by 40.9% during the 3rd quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 397 shares during the period. Finally, Addison Advisors LLC increased its stake in shares of HSBC by 39.0% in the 2nd quarter. Addison Advisors LLC now owns 1,458 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 409 shares in the last quarter. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

HSBC Trading Up 1.2 %

HSBC stock opened at $46.49 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. HSBC Holdings plc has a 12-month low of $36.93 and a 12-month high of $47.56. The firm has a market capitalization of $168.38 billion, a price-to-earnings ratio of 7.68 and a beta of 0.56. The firm has a 50 day moving average of $45.23 and a 200 day moving average of $44.10.

HSBC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 annualized dividend and a dividend yield of 4.30%. HSBC’s payout ratio is 32.73%.

Wall Street Analyst Weigh In

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

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.