Drive Wealth Management LLC Grows Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

Drive Wealth Management LLC increased its position in shares of HSBC Holdings plc (NYSE:HSBC) by 6.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,771 shares of the financial services provider’s stock after acquiring an additional 407 shares during the quarter. Drive Wealth Management LLC’s holdings in HSBC were worth $306,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of HSBC. Mediolanum International Funds Ltd purchased a new stake in HSBC during the 3rd quarter valued at about $139,895,000. International Assets Investment Management LLC purchased a new position in shares of HSBC during the third quarter worth $54,770,000. Stamos Capital Partners L.P. grew its position in HSBC by 884.1% during the 1st quarter. Stamos Capital Partners L.P. now owns 125,970 shares of the financial services provider’s stock worth $4,958,000 after purchasing an additional 113,170 shares during the period. Natixis Advisors LLC lifted its holdings in shares of HSBC by 22.1% in the 2nd quarter. Natixis Advisors LLC now owns 413,789 shares of the financial services provider’s stock valued at $18,000,000 after buying an additional 74,980 shares during the period. Finally, Crossmark Global Holdings Inc. raised its position in HSBC by 15.7% during the third quarter. Crossmark Global Holdings Inc. now owns 500,547 shares of the financial services provider’s stock valued at $22,620,000 after acquiring an additional 67,941 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

HSBC Price Performance

HSBC stock opened at $46.46 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 0.96. HSBC Holdings plc has a 1 year low of $36.93 and a 1 year high of $47.56. The stock has a market capitalization of $101.87 billion, a P/E ratio of 7.68 and a beta of 0.56. The company’s fifty day moving average price is $44.94 and its 200 day moving average price is $44.05.

HSBC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Friday, November 8th. HSBC’s dividend payout ratio (DPR) is 32.73%.

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.