Hsbc Holdings PLC Purchases 137,030 Shares of Ship Finance International Limited (SFL)

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Hsbc Holdings PLC increased its position in Ship Finance International Limited (NYSE:SFL) by 56.0% in the third quarter, Holdings Channel reports. The institutional investor owned 381,820 shares of the shipping company’s stock after buying an additional 137,030 shares during the quarter. Hsbc Holdings PLC’s holdings in Ship Finance International were worth $5,304,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in shares of Ship Finance International in the 2nd quarter valued at about $169,000. Engineers Gate Manager LP raised its stake in Ship Finance International by 91.2% during the second quarter. Engineers Gate Manager LP now owns 102,225 shares of the shipping company’s stock worth $1,528,000 after acquiring an additional 48,756 shares during the period. Rhumbline Advisers raised its stake in Ship Finance International by 15.4% during the second quarter. Rhumbline Advisers now owns 152,334 shares of the shipping company’s stock worth $2,277,000 after acquiring an additional 20,300 shares during the period. Bank of New York Mellon Corp raised its stake in Ship Finance International by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 2,990,056 shares of the shipping company’s stock worth $44,702,000 after acquiring an additional 58,348 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Ship Finance International by 860,000.0% during the second quarter. Canada Pension Plan Investment Board now owns 86,010 shares of the shipping company’s stock worth $1,286,000 after acquiring an additional 86,000 shares during the period. Institutional investors own 29.20% of the company’s stock.

SFL opened at $12.75 on Friday. The stock has a market cap of $1.57 billion, a P/E ratio of 10.71 and a beta of 1.21. Ship Finance International Limited has a fifty-two week low of $11.50 and a fifty-two week high of $15.98. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.10.

Ship Finance International (NYSE:SFL) last released its quarterly earnings data on Tuesday, November 20th. The shipping company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.08. The firm had revenue of $111.00 million for the quarter, compared to analyst estimates of $114.96 million. Ship Finance International had a net margin of 22.77% and a return on equity of 9.68%. During the same quarter in the prior year, the business earned $0.31 earnings per share. Ship Finance International’s quarterly revenue was up 18.5% on a year-over-year basis. Sell-side analysts predict that Ship Finance International Limited will post 0.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Wednesday, December 12th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 10.98%. The ex-dividend date of this dividend is Tuesday, December 11th. Ship Finance International’s dividend payout ratio (DPR) is 117.65%.

SFL has been the topic of several research reports. UBS Group upgraded shares of Ship Finance International from a “sell” rating to a “buy” rating in a research note on Thursday, November 29th. Nordea Equity Research upgraded shares of Ship Finance International from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. TheStreet lowered shares of Ship Finance International from a “b” rating to a “c+” rating in a research note on Thursday, August 23rd. Zacks Investment Research lowered shares of Ship Finance International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 15th. Finally, ValuEngine lowered shares of Ship Finance International from a “hold” rating to a “sell” rating in a research note on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $15.38.

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Ship Finance International Profile

Ship Finance International Limited owns and operates vessels and offshore related assets primarily in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. It is also involved in the charter, purchase, and sale of assets. In addition, the company operates in various sectors of the shipping and offshore industry, including oil transportation, dry bulk shipments, chemical transportation, oil product transportation, container transportation, car transportation, drilling rigs, and offshore supply vessels.

See Also: Relative Strength Index

Want to see what other hedge funds are holding SFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ship Finance International Limited (NYSE:SFL).

Institutional Ownership by Quarter for Ship Finance International (NYSE:SFL)

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