Castleark Management LLC Sells 42,100 Shares of HSBC Holdings plc $HSBC

Castleark Management LLC lessened its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 50.0% in the second quarter, Holdings Channel.com reports. The firm owned 42,100 shares of the financial services provider’s stock after selling 42,100 shares during the period. Castleark Management LLC’s holdings in HSBC were worth $2,559,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in HSBC. NewSquare Capital LLC grew its holdings in shares of HSBC by 152.6% during the second quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 261 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in shares of HSBC by 101.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 234 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of HSBC in the second quarter worth approximately $31,000. Raleigh Capital Management Inc. bought a new stake in shares of HSBC in the second quarter worth about $33,000. Finally, Ameritas Advisory Services LLC purchased a new stake in HSBC in the second quarter worth about $39,000. Institutional investors own 1.48% of the company’s stock.

HSBC Trading Down 0.4%

HSBC stock opened at $74.92 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. HSBC Holdings plc has a 1-year low of $45.66 and a 1-year high of $75.44. The business has a 50 day simple moving average of $69.96 and a two-hundred day simple moving average of $66.00. The company has a market capitalization of $257.36 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 0.94 and a beta of 0.52.

HSBC (NYSE:HSBC) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.15. HSBC had a net margin of 12.85% and a return on equity of 12.78%. The firm had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $16.78 billion. Research analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 7th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, November 7th. This is a positive change from HSBC’s previous quarterly dividend of $0.50. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. HSBC’s dividend payout ratio (DPR) is 41.68%.

Wall Street Analyst Weigh In

HSBC has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of HSBC in a research note on Monday, December 8th. Citigroup restated a “buy” rating on shares of HSBC in a research report on Tuesday, October 21st. BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. Zacks Research upgraded shares of HSBC from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, Erste Group Bank raised shares of HSBC from a “hold” rating to a “buy” rating in a report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $63.00.

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.