Lindbrook Capital LLC Reduces Holdings in HSBC Holdings plc (NYSE:HSBC)

Lindbrook Capital LLC lessened its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 16.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,671 shares of the financial services provider’s stock after selling 1,502 shares during the quarter. Lindbrook Capital LLC’s holdings in HSBC were worth $347,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Pitcairn Co. purchased a new stake in shares of HSBC in the first quarter valued at $567,000. Mediolanum International Funds Ltd acquired a new position in shares of HSBC during the 3rd quarter valued at about $139,895,000. Advisors Asset Management Inc. lifted its holdings in shares of HSBC by 38.8% during the 1st quarter. Advisors Asset Management Inc. now owns 24,866 shares of the financial services provider’s stock worth $979,000 after acquiring an additional 6,948 shares during the period. QRG Capital Management Inc. boosted its position in shares of HSBC by 19.0% in the second quarter. QRG Capital Management Inc. now owns 302,994 shares of the financial services provider’s stock worth $13,180,000 after acquiring an additional 48,366 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in HSBC during the first quarter worth approximately $608,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Trading Down 4.0 %

Shares of HSBC stock opened at $44.96 on Friday. HSBC Holdings plc has a fifty-two week low of $36.63 and a fifty-two week high of $47.56. The firm’s 50 day moving average price is $44.73 and its two-hundred day moving average price is $43.91. The stock has a market cap of $98.58 billion, a price-to-earnings ratio of 7.43 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

HSBC Dividend Announcement

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 dividend yield of 4.45%. The ex-dividend date is Friday, November 8th. HSBC’s dividend payout ratio is presently 32.73%.

Analyst Ratings Changes

Separately, Dbs Bank raised HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st.

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.