Grantham Mayo Van Otterloo & Co. LLC Decreases Position in HSBC Holdings plc $HSBC

Grantham Mayo Van Otterloo & Co. LLC lowered its position in HSBC Holdings plc (NYSE:HSBC) by 6.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 306,115 shares of the financial services provider’s stock after selling 19,961 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in HSBC were worth $18,609,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewSquare Capital LLC increased its holdings in HSBC by 152.6% during the 2nd quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 261 shares in the last quarter. TD Private Client Wealth LLC increased its stake 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 acquired a new position in shares of HSBC during the 2nd quarter worth approximately $31,000. Raleigh Capital Management Inc. purchased a new stake in HSBC in the 2nd quarter valued at approximately $33,000. Finally, Ameritas Advisory Services LLC acquired a new stake in HSBC during the 2nd quarter valued at $39,000. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HSBC has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “hold” rating on shares of HSBC in a report on Friday, October 10th. Citigroup reissued a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Zacks Research upgraded shares of HSBC from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of HSBC in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, HSBC currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

HSBC Stock Up 0.9%

HSBC opened at $71.22 on Friday. The stock has a market capitalization of $244.64 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64. HSBC Holdings plc has a 12 month low of $45.66 and a 12 month high of $74.17. 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 50-day moving average of $69.57 and a two-hundred day moving average of $64.98.

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

HSBC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors 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. The ex-dividend date of this dividend is Friday, November 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.8%. HSBC’s dividend payout ratio 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.