Meritage Portfolio Management Increases Stake in HSBC Holdings plc

Meritage Portfolio Management has increased its investment in HSBC Holdings plc (NYSE:HSBC - Free Report) by 28.9% during the third quarter, as revealed in their latest 13F filing with the Securities and Exchange Commission. By acquiring an additional 67,617 shares, the firm now holds a total of 301,813 shares in the financial services company. This investment represents about 0.8% of Meritage Portfolio Management's overall portfolio, ranking HSBC as its 22nd largest position. As of the end of the last reporting period, the value of Meritage's holdings in HSBC was approximately $13,639,000.

Other Hedge Fund Activities

Several other hedge funds have also adjusted their positions in HSBC. Crossmark Global Holdings Inc. raised its stake by 15.7% in the third quarter, now owning 500,547 shares valued at about $22,620,000 after acquiring 67,941 additional shares. Catalina Capital Group LLC increased its holdings by 16.1%, bringing their total to 6,309 shares worth $285,000 after purchasing 877 shares. Moreover, QRG Capital Management Inc. lifted its stake by 2.5%, now holding 310,442 shares valued at $14,029,000 after a 7,448 share increase. BSW Wealth Partners also boosted its investment by 4.4%, now owning 12,928 shares valued at $584,000 after an addition of 545 shares. Lastly, Optas LLC grew its position by 18.1%, totaling 9,317 shares worth $421,000 after acquiring 1,431 shares. Collectively, institutional investors and hedge funds comprise 1.48% of HSBC's total shares.

Analyst Updates

In separate news, Dbs Bank has upgraded HSBC to a "strong-buy" rating according to a research report released on July 31st.

Market Performance

On Friday, shares of HSBC traded lower, dropping 4.0% to $44.96. Over 1.8 million shares were traded, significantly higher than the average volume of about 1.1 million. The company has seen a twelve-month low of $36.63 and a high of $47.56. Its 50-day moving average stands at $44.73, while the 200-day moving average is $43.91. HSBC Holdings plc has a market capitalization of $98.58 billion, a P/E ratio of 7.43, and a beta of 0.56, with a debt-to-equity ratio of 0.52, a current ratio of 0.96, and a quick ratio of 0.96.

Dividend Announcement

The company has also announced a quarterly dividend payment scheduled for December 19th, with a record date of November 8th. Shareholders will receive $0.50 per share, which amounts to an annualized dividend of $2.00, yielding 4.45%. The ex-dividend date is also set for November 8th, and HSBC's dividend payout ratio stands at 32.73%.

About HSBC Holdings plc

HSBC Holdings plc is a global bank providing a wide range of banking and financial services, operating through various segments, including Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets. The Wealth and Personal Banking division offers services such as retail banking, mortgages, personal loans, credit and debit cards, and investment management services.

HSBC, Investment, Funds