Bank of Montreal Can Trims Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

Bank of Montreal Can lessened its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 45.8% in the second quarter, HoldingsChannel reports. The firm owned 76,425 shares of the financial services provider’s stock after selling 64,576 shares during the quarter. Bank of Montreal Can’s holdings in HSBC were worth $3,352,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. DRW Securities LLC purchased a new stake in shares of HSBC during the second quarter worth about $244,000. Frank Rimerman Advisors LLC purchased a new stake in HSBC in the 2nd quarter worth approximately $2,590,000. Legacy Financial Advisors Inc. raised its holdings in HSBC by 5.3% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 16,388 shares of the financial services provider’s stock valued at $713,000 after acquiring an additional 818 shares during the last quarter. Summit Trail Advisors LLC purchased a new position in shares of HSBC during the 2nd quarter worth $296,000. Finally, Sei Investments Co. boosted its holdings in shares of HSBC by 5.5% during the second quarter. Sei Investments Co. now owns 119,144 shares of the financial services provider’s stock worth $5,183,000 after purchasing an additional 6,174 shares during the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Dbs Bank upgraded 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 given a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

HSBC Stock Performance

Shares of HSBC stock opened at $45.05 on Thursday. 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 firm has a market capitalization of $168.98 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. HSBC Holdings plc has a one year low of $35.30 and a one year high of $46.07. The company has a 50 day moving average price of $43.42 and a 200 day moving average price of $42.96.

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

HSBC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Friday, August 16th. HSBC’s dividend payout ratio (DPR) is presently 34.14%.

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.