6,795 Shares in HSBC Holdings plc (NYSE:HSBC) Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC bought a new stake in shares of HSBC Holdings plc (NYSE:HSBC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,795 shares of the financial services provider’s stock, valued at approximately $296,000.

A number of other institutional investors have also recently made changes to their positions in HSBC. Drive Wealth Management LLC boosted its holdings in HSBC by 4.5% in the second quarter. Drive Wealth Management LLC now owns 6,364 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 273 shares during the last quarter. Crumly & Associates Inc. grew its holdings in shares of HSBC by 1.8% in the second quarter. Crumly & Associates Inc. now owns 15,970 shares of the financial services provider’s stock worth $695,000 after acquiring an additional 287 shares during the period. PDS Planning Inc increased its position in HSBC by 2.4% during the first quarter. PDS Planning Inc now owns 13,335 shares of the financial services provider’s stock valued at $525,000 after acquiring an additional 312 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in HSBC by 5.9% in the second quarter. 180 Wealth Advisors LLC now owns 6,036 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 338 shares during the period. Finally, Lester Murray Antman dba SimplyRich grew its stake in shares of HSBC by 5.7% during the 1st quarter. Lester Murray Antman dba SimplyRich now owns 6,507 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 349 shares during the period. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Price Performance

NYSE HSBC opened at $45.07 on Tuesday. 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 business’s fifty day moving average is $43.14 and its 200 day moving average is $42.63. The company has a market capitalization of $169.05 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 0.94 and a beta of 0.56. HSBC Holdings plc has a fifty-two week low of $35.30 and a fifty-two week high of $45.53.

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

HSBC Announces Dividend

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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Friday, August 16th. HSBC’s dividend payout ratio is currently 34.14%.

Analysts Set New Price Targets

Separately, Dbs Bank upgraded shares of HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

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.