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

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

A number of other hedge funds have also modified their holdings of HSBC. OneDigital Investment Advisors LLC acquired a new position in HSBC during the third quarter worth $263,000. Huntington National Bank increased its stake in HSBC by 11.9% during the third quarter. Huntington National Bank now owns 2,122 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 226 shares during the period. MQS Management LLC purchased a new position in shares of HSBC in the third quarter valued at approximately $439,000. Prime Capital Investment Advisors LLC grew its holdings in shares of HSBC by 4.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 8,268 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 341 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in HSBC by 5.5% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 10,217 shares of the financial services provider’s stock worth $462,000 after buying an additional 535 shares in the last quarter. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

HSBC Stock Performance

Shares of HSBC stock opened at $46.46 on Tuesday. The business has a 50-day simple moving average of $44.94 and a 200-day simple moving average of $44.05. The company has a market cap of $101.87 billion, a PE ratio of 7.68 and a beta of 0.56. HSBC Holdings plc has a one year low of $36.93 and a one year high of $47.56. 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 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 issued a $0.50 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.30%. HSBC’s payout ratio 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.