PNC Financial Services Group Inc. Has $2.20 Million Holdings in HSBC Holdings plc (NYSE:HSBC)

PNC Financial Services Group Inc. decreased its position in HSBC Holdings plc (NYSE:HSBC) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,668 shares of the financial services provider’s stock after selling 2,703 shares during the quarter. PNC Financial Services Group Inc.’s holdings in HSBC were worth $2,199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Family Firm Inc. bought a new stake in HSBC in the 2nd quarter valued at approximately $36,000. Ridgewood Investments LLC bought a new stake in shares of HSBC in the second quarter worth $47,000. Fifth Third Bancorp boosted its holdings in 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 during the last quarter. Allworth Financial LP increased its stake in HSBC by 40.9% in the 3rd quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock valued at $62,000 after buying an additional 397 shares during the last quarter. Finally, Addison Advisors LLC lifted its position in HSBC by 39.0% during the 2nd quarter. Addison Advisors LLC now owns 1,458 shares of the financial services provider’s stock worth $63,000 after buying an additional 409 shares in the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Trading Up 1.2 %

NYSE HSBC opened at $46.49 on Tuesday. HSBC Holdings plc has a 12 month low of $36.93 and a 12 month high of $47.56. 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 50 day moving average of $45.23 and a 200-day moving average of $44.10. The company has a market cap of $168.38 billion, a PE ratio of 7.68 and a beta of 0.56.

HSBC Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Dbs Bank raised HSBC to a “strong-buy” rating in a research report 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.