Catalyst Capital Advisors LLC Trims Stock Position in HSBC Holdings plc $HSBC

Catalyst Capital Advisors LLC lowered its holdings in HSBC Holdings plc (NYSE:HSBC) by 4.4% during the second quarter, Holdings Channel.com reports. The firm owned 57,805 shares of the financial services provider’s stock after selling 2,675 shares during the period. Catalyst Capital Advisors LLC’s holdings in HSBC were worth $3,514,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HSBC. Goldman Sachs Group Inc. raised its holdings in shares of HSBC by 1.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock valued at $271,438,000 after buying an additional 53,072 shares during the period. Northern Trust Corp increased its stake in HSBC by 3.3% during the first quarter. Northern Trust Corp now owns 2,873,096 shares of the financial services provider’s stock worth $165,002,000 after purchasing an additional 91,789 shares during the period. Contrarian Capital Management L.L.C. increased its stake in HSBC by 425.4% during the first quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider’s stock worth $72,687,000 after purchasing an additional 1,024,780 shares during the period. Royal Bank of Canada increased its stake in HSBC by 18.7% during the first quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider’s stock worth $60,155,000 after purchasing an additional 164,915 shares during the period. Finally, American Century Companies Inc. increased its stake in HSBC by 9.1% during the 1st quarter. American Century Companies Inc. now owns 1,022,231 shares of the financial services provider’s stock worth $58,707,000 after buying an additional 85,166 shares during the period. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Stock Down 0.2%

HSBC opened at $66.31 on Friday. HSBC Holdings plc has a one year low of $44.24 and a one year high of $72.21. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86. The business’s fifty day moving average is $67.40 and its two-hundred day moving average is $61.88. The company has a market cap of $228.79 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.75 and a beta of 0.62.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The company had revenue of $16.90 billion for the quarter, compared to the consensus estimate of $16.64 billion. Analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 15th were given a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, August 15th. HSBC’s dividend payout ratio is currently 39.21%.

Analyst Ratings Changes

HSBC has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HSBC in a research note on Wednesday, October 8th. BNP Paribas Exane upgraded HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. BNP Paribas raised shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, September 5th. Jefferies Financial Group reaffirmed a “hold” rating on shares of HSBC in a report on Friday, October 10th. Finally, Zacks Research downgraded HSBC from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.00.

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.