59,549 Shares in HSBC Holdings plc (NYSE:HSBC) Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC purchased a new stake in shares of HSBC Holdings plc (NYSE:HSBC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 59,549 shares of the financial services provider’s stock, valued at approximately $2,590,000.

A number of other institutional investors also recently modified their holdings of the company. American Century Companies Inc. raised its position in HSBC by 4.6% during the 2nd quarter. American Century Companies Inc. now owns 850,842 shares of the financial services provider’s stock valued at $37,012,000 after purchasing an additional 37,781 shares during the last quarter. Natixis Advisors LLC lifted its stake in HSBC by 22.1% in the second quarter. Natixis Advisors LLC now owns 413,789 shares of the financial services provider’s stock worth $18,000,000 after acquiring an additional 74,980 shares during the period. Raymond James & Associates boosted its holdings in HSBC by 2.6% in the second quarter. Raymond James & Associates now owns 361,416 shares of the financial services provider’s stock valued at $15,722,000 after acquiring an additional 9,323 shares in the last quarter. QRG Capital Management Inc. increased its position in HSBC by 19.0% during the 2nd quarter. QRG Capital Management Inc. now owns 302,994 shares of the financial services provider’s stock valued at $13,180,000 after purchasing an additional 48,366 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in HSBC by 28.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 176,352 shares of the financial services provider’s stock worth $6,941,000 after purchasing an additional 39,344 shares in the last quarter. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

HSBC Trading Down 1.2 %

HSBC opened at $44.17 on Friday. The stock has a market cap of $165.68 billion, a PE ratio of 7.62, a PEG ratio of 0.94 and a beta of 0.56. The business has a 50 day moving average of $43.10 and a 200-day moving average of $42.56. HSBC Holdings plc has a 52 week low of $35.30 and a 52 week high of $45.53. 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 (NYSE:HSBC) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 EPS for the quarter. The firm had revenue of $16.54 billion for the quarter. HSBC had a net margin of 15.61% and a return on equity of 10.60%. Equities research analysts predict that HSBC Holdings plc will post 5.74 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 16th 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 4.53%. The ex-dividend date is Friday, August 16th. HSBC’s dividend payout ratio is 34.14%.

Analyst Upgrades and Downgrades

Separately, Dbs Bank raised shares of HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, HSBC currently has an average rating of “Hold”.

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.