Raymond James & Associates Reduces Stock Position in HSBC Holdings plc (NYSE:HSBC)

Raymond James & Associates decreased its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 11.5% during the third quarter, Holdings Channel reports. The firm owned 319,985 shares of the financial services provider’s stock after selling 41,431 shares during the quarter. Raymond James & Associates’ holdings in HSBC were worth $14,460,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HSBC. Blue Trust Inc. lifted its holdings in shares of HSBC by 120.7% during the 3rd quarter. Blue Trust Inc. now owns 18,418 shares of the financial services provider’s stock valued at $801,000 after buying an additional 10,074 shares during the period. Net Worth Advisory Group purchased a new position in HSBC in the third quarter worth about $323,000. Aaron Wealth Advisors LLC grew its stake in shares of HSBC by 20.8% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 20,869 shares of the financial services provider’s stock valued at $943,000 after purchasing an additional 3,594 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of HSBC by 10.2% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,740 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 622 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of HSBC by 3.1% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 22,618 shares of the financial services provider’s stock worth $1,022,000 after buying an additional 675 shares during the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Stock Performance

NYSE:HSBC opened at $44.36 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 0.89. The stock has a 50-day simple moving average of $44.19 and a two-hundred day simple moving average of $43.55. The firm has a market capitalization of $97.26 billion, a PE ratio of 7.65 and a beta of 0.56. HSBC Holdings plc has a 52-week low of $35.30 and a 52-week high of $46.07.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter. HSBC had a return on equity of 10.60% and a net margin of 15.61%. The company had revenue of $16.54 billion during the quarter. Analysts forecast that HSBC Holdings plc will post 6.22 EPS for the current year.

HSBC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 16th were paid a $0.50 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.51%. HSBC’s dividend payout ratio (DPR) is presently 34.14%.

Wall Street Analyst Weigh In

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

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.