Dimensional Fund Advisors LP Decreases Stock Holdings in HSBC Holdings plc $HSBC

Key Points

• Dimensional Fund Advisors LP has reduced its stake in HSBC Holdings plc by 2.3%, owning approximately $596.48 million worth of shares after selling 246,104 shares in the 1st quarter.
• Bank of America has issued a "neutral" rating for HSBC with a price objective of $63.00, as five analysts currently hold a "Hold" rating, while only one has rated it as a buy.
• HSBC recently announced a dividend of $0.495 per share, set to be paid on September 26th, which represents a dividend yield of 308.0%.

Dimensional Fund Advisors LP trimmed its stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,386,228 shares of the financial services provider's stock after selling 246,104 shares during the quarter. Dimensional Fund Advisors LP owned 0.29% of HSBC worth $596,481,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HSBC. Northern Trust Corp increased its position in HSBC by 52.0% during the 4th quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider's stock valued at $137,563,000 after buying an additional 951,050 shares in the last quarter. GAMMA Investing LLC raised its position in HSBC by 7,061.5% during the first quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider's stock valued at $321,210,000 after purchasing an additional 551,501 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in HSBC by 729.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,953 shares of the financial services provider's stock worth $22,280,000 after purchasing an additional 341,187 shares in the last quarter. QRG Capital Management Inc. boosted its position in HSBC by 5.6% during the 1st quarter. QRG Capital Management Inc. now owns 366,245 shares of the financial services provider's stock valued at $21,033,000 after acquiring an additional 19,584 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in HSBC during the 4th quarter worth about $17,815,000. 1.48% of the stock is currently owned by institutional investors.

HSBC Price Performance

HSBC stock traded down $1.94 during mid-day trading on Friday, hitting $63.83. The company's stock had a trading volume of 1,693,410 shares, compared to its average volume of 1,561,767. The stock's fifty day moving average price is $61.88 and its two-hundred day moving average price is $58.12. The stock has a market capitalization of $222.86 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.43 and a beta of 0.60. HSBC Holdings plc has a twelve month low of $42.38 and a twelve month high of $65.77. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

HSBC (NYSE:HSBC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The company had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $16.64 billion. Research analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, September 26th. Stockholders of record on Monday, August 18th will be issued a $0.495 dividend. This represents a dividend yield of 308.0%. The ex-dividend date of this dividend is Friday, August 15th. HSBC's dividend payout ratio is presently 39.21%.

Wall Street Analyst Weigh In

Separately, Bank of America restated a "neutral" rating and issued a $63.00 price target on shares of HSBC in a research report on Tuesday, June 3rd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, HSBC has a consensus rating of "Hold" and a consensus price target of $63.00.

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.