Sanders Capital LLC Cuts Holdings in HSBC Holdings plc (NYSE:HSBC)

Sanders Capital LLC cut its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 0.2% during the third quarter, Holdings Channel.com reports. The fund owned 2,982,050 shares of the financial services provider’s stock after selling 4,620 shares during the period. Sanders Capital LLC’s holdings in HSBC were worth $134,759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Larson Financial Group LLC increased its position in shares of HSBC by 138.5% in the third quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock valued at $35,000 after buying an additional 450 shares in the last quarter. Family Firm Inc. acquired a new position in HSBC during the second quarter worth $36,000. Ridgewood Investments LLC purchased a new position in HSBC during the second quarter valued at $47,000. Fifth Third Bancorp increased its stake in shares of HSBC by 128.4% during the second quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 765 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of HSBC by 40.9% during the 3rd quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 397 shares during the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Stock Performance

NYSE HSBC opened at $46.48 on Tuesday. The stock has a fifty day simple moving average of $45.23 and a 200-day simple moving average of $44.10. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market cap of $168.35 billion, a PE ratio of 7.68 and a beta of 0.56. HSBC Holdings plc has a twelve month low of $36.93 and a twelve month high of $47.56.

HSBC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 dividend yield of 4.30%. The ex-dividend date is Friday, November 8th. HSBC’s dividend payout ratio is presently 32.73%.

Analyst Upgrades and Downgrades

Separately, Dbs Bank raised HSBC to a “strong-buy” rating in a report on Wednesday, July 31st.

HSBC Company 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.