HSBC Holdings PLC (HSBC) Holdings Cut by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lessened its holdings in shares of HSBC Holdings PLC (NYSE:HSBC) by 35.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,977 shares of the financial services provider’s stock after selling 6,004 shares during the quarter. Pinnacle Associates Ltd.’s holdings in HSBC Holdings PLC were worth $509,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Enterprise Financial Services Corp increased its stake in HSBC Holdings PLC by 0.6% during the 2nd quarter. Enterprise Financial Services Corp now owns 3,442 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 19 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of HSBC Holdings PLC by 0.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 5,960 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 40 shares in the last quarter. SOL Capital Management CO grew its stake in shares of HSBC Holdings PLC by 0.6% in the 2nd quarter. SOL Capital Management CO now owns 7,393 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 46 shares in the last quarter. LS Investment Advisors LLC grew its stake in shares of HSBC Holdings PLC by 2.6% in the 2nd quarter. LS Investment Advisors LLC now owns 2,338 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 59 shares in the last quarter. Finally, Capital One National Association grew its stake in shares of HSBC Holdings PLC by 1.4% in the 2nd quarter. Capital One National Association now owns 5,192 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 71 shares in the last quarter. Institutional investors and hedge funds own 2.23% of the company’s stock.

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HSBC Holdings PLC (NYSE HSBC) opened at 49.11 on Friday. The company has a market capitalization of $199.09 billion, a PE ratio of 100.22 and a beta of 0.88. The company has a 50 day moving average of $48.41 and a 200 day moving average of $44.67. HSBC Holdings PLC has a 52-week low of $36.79 and a 52-week high of $50.86.

HSBC Holdings PLC (NYSE:HSBC) last issued its quarterly earnings data on Monday, July 31st. The financial services provider reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.08. HSBC Holdings PLC had a return on equity of 2.08% and a net margin of 1.42%. The business had revenue of $13.17 billion during the quarter. On average, equities research analysts forecast that HSBC Holdings PLC will post $2.95 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Friday, August 4th were issued a $0.50 dividend. The ex-dividend date was Wednesday, August 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 4.07%. HSBC Holdings PLC’s dividend payout ratio (DPR) is presently 400.01%.

HSBC has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of HSBC Holdings PLC from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. BidaskClub downgraded shares of HSBC Holdings PLC from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Morgan Stanley raised shares of HSBC Holdings PLC from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 28th. Finally, Berenberg Bank downgraded shares of HSBC Holdings PLC from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $36.00.

About HSBC Holdings PLC

HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.

Institutional Ownership by Quarter for HSBC Holdings PLC (NYSE:HSBC)

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