Allspring Global Investments Holdings LLC Purchases 3,451 Shares of HSBC Holdings plc (NYSE:HSBC)

Allspring Global Investments Holdings LLC lifted its holdings in HSBC Holdings plc (NYSE:HSBC) by 23.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,341 shares of the financial services provider’s stock after buying an additional 3,451 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in HSBC were worth $829,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Family Firm Inc. bought a new position in HSBC in the 2nd quarter worth about $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 in the last quarter. Ridgewood Investments LLC bought a new position in HSBC in the second quarter worth approximately $47,000. Fifth Third Bancorp lifted its holdings in HSBC by 128.4% during the second quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock worth $59,000 after buying an additional 765 shares during the period. Finally, Addison Advisors LLC increased its holdings in shares of HSBC by 39.0% in the 2nd quarter. Addison Advisors LLC now owns 1,458 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 409 shares during the period. 1.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

HSBC Trading Down 0.2 %

NYSE HSBC opened at $46.13 on Friday. The company has a fifty day moving average of $44.43 and a 200 day moving average of $43.66. The company has a market capitalization of $173.03 billion, a PE ratio of 7.95 and a beta of 0.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.89 and a quick ratio of 0.96. HSBC Holdings plc has a 1 year low of $36.02 and a 1 year high of $47.26.

HSBC (NYSE:HSBC) last announced its earnings results 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 firm had revenue of $16.54 billion for the quarter. Research analysts forecast that HSBC Holdings plc will post 6.22 earnings per share for the current year.

HSBC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.34%. The ex-dividend date is Friday, November 8th. HSBC’s payout ratio is currently 34.14%.

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.