Frank Rimerman Advisors LLC Has $982,000 Stock Holdings in HSBC Holdings plc $HSBC

Frank Rimerman Advisors LLC lifted its position in shares of HSBC Holdings plc (NYSE:HSBC) by 5.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,160 shares of the financial services provider’s stock after buying an additional 826 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in HSBC were worth $982,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HSBC. NewSquare Capital LLC increased its position in HSBC by 152.6% during the second quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 261 shares during the period. TD Private Client Wealth LLC grew its position in shares of HSBC by 101.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 234 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of HSBC during the second quarter worth approximately $31,000. Raleigh Capital Management Inc. acquired a new stake in shares of HSBC in the second quarter valued at approximately $33,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of HSBC in the second quarter valued at approximately $39,000. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HSBC. BNP Paribas raised HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. Jefferies Financial Group restated a “hold” rating on shares of HSBC in a research report on Friday, October 10th. Citigroup reaffirmed a “buy” rating on shares of HSBC in a research report on Tuesday, October 21st. Zacks Research upgraded shares of HSBC from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.00.

HSBC Price Performance

Shares of HSBC stock opened at $69.64 on Wednesday. HSBC Holdings plc has a twelve month low of $45.59 and a twelve month high of $74.17. The company has a quick ratio of 0.93, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $69.50 and a 200 day simple moving average of $64.37. The company has a market cap of $240.31 billion, a P/E ratio of 14.66, a P/E/G ratio of 1.30 and a beta of 0.64.

HSBC (NYSE:HSBC) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $1.80 EPS for the quarter, topping the consensus estimate of $1.65 by $0.15. HSBC had a return on equity of 12.78% and a net margin of 12.85%.The firm had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $16.78 billion. On average, sell-side analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Increases Dividend

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

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.