Caas Capital Management LP Boosts Stake in HSBC Holdings plc (NYSE:HSBC)

Caas Capital Management LP lifted its position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 172.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,596 shares of the financial services provider's stock after purchasing an additional 31,403 shares during the quarter. HSBC comprises 0.3% of Caas Capital Management LP's investment portfolio, making the stock its 23rd biggest holding. Caas Capital Management LP's holdings in HSBC were worth $2,241,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of HSBC by 4.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,399 shares of the financial services provider's stock worth $803,000 after buying an additional 873 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in HSBC by 317.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,343 shares of the financial services provider's stock valued at $407,000 after acquiring an additional 7,866 shares during the period. Norden Group LLC purchased a new position in shares of HSBC in the first quarter worth $211,000. Commonwealth Equity Services LLC increased its holdings in shares of HSBC by 8.8% in the first quarter. Commonwealth Equity Services LLC now owns 49,736 shares of the financial services provider's stock worth $1,958,000 after purchasing an additional 4,021 shares during the last quarter. Finally, Mission Wealth Management LP raised its holdings in shares of HSBC by 21.5% during the 1st quarter. Mission Wealth Management LP now owns 6,311 shares of the financial services provider's stock worth $248,000 after acquiring an additional 1,115 shares in the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

HSBC Stock Performance

HSBC stock traded up $0.07 during trading on Friday, reaching $46.20. The company had a trading volume of 997,662 shares, compared to its average volume of 1,714,923. The firm has a 50-day simple moving average of $44.43 and a 200-day simple moving average of $43.66. HSBC Holdings plc has a twelve month low of $36.63 and a twelve month high of $47.26. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $101.30 billion, a price-to-earnings ratio of 7.65 and a beta of 0.56.

HSBC (NYSE:HSBC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share for the quarter. HSBC had a return on equity of 10.71% and a net margin of 15.70%. The company had revenue of $16.54 billion during the quarter. As a group, sell-side analysts expect that HSBC Holdings plc will post 6.22 earnings per share for the current year.

HSBC Announces Dividend

The company 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. The ex-dividend date is Friday, November 8th. This represents a $2.00 annualized dividend and a yield of 4.33%. HSBC's dividend payout ratio (DPR) is currently 32.73%.

Wall Street Analyst Weigh In

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

HSBC 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.