Bank of Montreal Can Acquires 94,991 Shares of HSBC Holdings plc (NYSE:HSBC)

Bank of Montreal Can raised its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 124.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 171,416 shares of the financial services provider’s stock after purchasing an additional 94,991 shares during the quarter. Bank of Montreal Can’s holdings in HSBC were worth $7,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of HSBC. Larson Financial Group LLC raised its stake in shares of HSBC by 138.5% in the third quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 450 shares during the last quarter. Family Firm Inc. bought a new position in shares of HSBC in the 2nd quarter worth $36,000. Ridgewood Investments LLC acquired a new stake in shares of HSBC in the 2nd quarter valued at 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 acquiring an additional 765 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of HSBC by 40.9% in 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 owned by institutional investors and hedge funds.

HSBC Stock Up 0.2 %

NYSE:HSBC opened at $47.00 on Tuesday. The company has a market cap of $170.21 billion, a PE ratio of 7.77 and a beta of 0.56. HSBC Holdings plc has a 52-week low of $36.93 and a 52-week high of $47.56. The stock has a 50-day simple moving average of $45.43 and a 200 day simple moving average of $44.17. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 0.96.

HSBC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Friday, November 8th. HSBC’s payout ratio is presently 32.73%.

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.