Meritage Portfolio Management Has $13.64 Million Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

Meritage Portfolio Management raised its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 28.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 301,813 shares of the financial services provider’s stock after buying an additional 67,617 shares during the period. HSBC comprises about 0.8% of Meritage Portfolio Management’s investment portfolio, making the stock its 22nd biggest holding. Meritage Portfolio Management’s holdings in HSBC were worth $13,639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Pitcairn Co. acquired a new stake in HSBC in the first quarter valued at approximately $567,000. Mediolanum International Funds Ltd acquired a new stake in shares of HSBC in the third quarter worth about $139,895,000. Advisors Asset Management Inc. boosted its stake in shares of HSBC by 38.8% during the 1st quarter. Advisors Asset Management Inc. now owns 24,866 shares of the financial services provider’s stock worth $979,000 after acquiring an additional 6,948 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of HSBC by 19.0% during the 2nd quarter. QRG Capital Management Inc. now owns 302,994 shares of the financial services provider’s stock valued at $13,180,000 after acquiring an additional 48,366 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of HSBC in the 1st quarter valued at approximately $608,000. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

HSBC Stock Performance

NYSE:HSBC traded down $1.88 during mid-day trading on Friday, hitting $44.96. 1,897,827 shares of the company’s stock traded hands, compared to its average volume of 1,078,888. The firm has a market capitalization of $98.58 billion, a price-to-earnings ratio of 7.43 and a beta of 0.56. The firm has a 50 day moving average of $44.73 and a two-hundred day moving average of $43.91. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. HSBC Holdings plc has a 12 month low of $36.63 and a 12 month high of $47.56.

HSBC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Friday, November 8th. HSBC’s dividend payout ratio (DPR) is currently 32.73%.

Wall Street Analysts Forecast Growth

Separately, Dbs Bank upgraded shares of HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st.

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.