Renaissance Technologies LLC Lowers Holdings in HSBC Holdings plc (NYSE:HSBC)

Renaissance Technologies LLC trimmed its position in HSBC Holdings plc (NYSE:HSBC) by 17.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 449,365 shares of the financial services provider’s stock after selling 95,778 shares during the period. Renaissance Technologies LLC’s holdings in HSBC were worth $19,547,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HSBC. Richardson Financial Services Inc. purchased a new position in HSBC in the 4th quarter valued at $27,000. Rise Advisors LLC acquired a new stake in HSBC in the first quarter valued at $34,000. Family Firm Inc. acquired a new stake in HSBC in the second quarter valued at $36,000. RFP Financial Group LLC lifted its holdings in HSBC by 126.1% in the first quarter. RFP Financial Group LLC now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 575 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in HSBC in the second quarter valued at $47,000. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Dbs Bank raised HSBC to a “strong-buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

HSBC Trading Down 1.2 %

NYSE:HSBC opened at $44.17 on Friday. The company has a market capitalization of $165.68 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 0.94 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 0.89 and a debt-to-equity ratio of 0.65. HSBC Holdings plc has a 52-week low of $35.30 and a 52-week high of $45.53. The stock has a fifty day simple moving average of $43.10 and a 200-day simple moving average of $42.53.

HSBC (NYSE:HSBC) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter. The business had revenue of $16.54 billion during the quarter. HSBC had a return on equity of 10.60% and a net margin of 15.61%. On average, equities research analysts expect that HSBC Holdings plc will post 5.74 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.53%. The ex-dividend date is Friday, August 16th. HSBC’s payout ratio is 34.14%.

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.