Free Trial

Meritage Portfolio Management Grows Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

HSBC logo with Finance background

Meritage Portfolio Management boosted its holdings in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 28.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 301,813 shares of the financial services provider's stock after buying an additional 67,617 shares during the period. HSBC makes up about 0.8% of Meritage Portfolio Management's holdings, making the stock its 22nd largest holding. Meritage Portfolio Management's holdings in HSBC were worth $13,639,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Family Firm Inc. bought a new stake in HSBC in the 2nd quarter worth approximately $36,000. RFP Financial Group LLC boosted its stake in shares of HSBC by 126.1% during the first quarter. RFP Financial Group LLC now owns 1,031 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 575 shares during the period. Ridgewood Investments LLC purchased a new position in shares of HSBC in the second quarter valued at about $47,000. Fifth Third Bancorp raised its position in HSBC by 128.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 765 shares during the last quarter. Finally, Allworth Financial LP increased its stake in shares of HSBC by 40.9% during the third quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider's stock valued at $62,000 after buying an additional 397 shares during the period. 1.48% of the stock is currently owned by institutional investors.

HSBC Stock Down 4.0 %

HSBC stock traded down $1.88 on Friday, hitting $44.96. 1,897,827 shares of the stock traded hands, compared to its average volume of 1,078,888. HSBC Holdings plc has a 1 year low of $36.63 and a 1 year high of $47.56. The business's fifty day simple moving average is $44.73 and its 200 day simple moving average is $43.93. The firm has a market cap of $98.58 billion, a P/E ratio of 7.43 and a beta of 0.56. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Friday, November 8th. HSBC's payout ratio is 32.73%.

Analyst Upgrades and Downgrades

Separately, Dbs Bank upgraded shares of HSBC to a "strong-buy" rating in a report on Wednesday, July 31st.

Check Out Our Latest Report on HSBC

HSBC Company Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for HSBC (NYSE:HSBC)

Should you invest $1,000 in HSBC right now?

Before you consider HSBC, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and HSBC wasn't on the list.

While HSBC currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Best High-Yield Dividend Stocks for 2024 Cover

Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

’Best Report in 2 Years’: NVIDIA Earnings Crushes Expectations Again
Palantir and the NASDAQ 100: What’s the Next Big Stock Swing for This AI Giant?
Rocket Lab Stock Explodes Higher—What’s Next for This Space Pioneer?

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines