Meritage Portfolio Management Increases Stake in HSBC Holdings plc

Meritage Portfolio Management has significantly increased its ownership in HSBC Holdings plc (NYSE:HSBC) by 28.9% during the third quarter, based on the latest 13F filing with the Securities and Exchange Commission. This brings their total holdings to 301,813 shares of the financial services provider, following an acquisition of an additional 67,617 shares during this period. Notably, HSBC now represents approximately 0.8% of Meritage Portfolio Management's total holdings, making it the firm's 22nd largest investment. As of the most recent reporting period, Meritage's holdings in HSBC were valued at $13,639,000.

Several other hedge funds have also adjusted their positions in HSBC. For instance, Crossmark Global Holdings Inc. increased its stake by 15.7% during the third quarter, owning 500,547 shares worth $22,620,000, after acquiring an extra 67,941 shares. Similarly, Catalina Capital Group LLC raised its shares by 16.1%, now owning 6,309 shares valued at $285,000, following a purchase of 877 shares. Furthermore, QRG Capital Management Inc. lifted its position in HSBC by 2.5%, now holding 310,442 shares worth $14,029,000 after an acquisition of 7,448 shares. BSW Wealth Partners also boosted its shares by 4.4%, owning 12,928 shares worth $584,000 after buying an additional 545 shares. Lastly, Optas LLC increased its position by 18.1%, now holding 9,317 shares valued at $421,000 after adding 1,431 shares.

Analyst Ratings Updates

In a separate development, Dbs Bank recently upgraded HSBC's rating to "strong-buy" in a report circulating since July 31st.

HSBC Recent Trading Activity

As of Friday, shares of HSBC were trading down by 4.0% at $44.96, with 1,897,827 shares exchanged, significantly above its average volume of 1,078,888. Over the past year, HSBC's stock has seen a low of $36.63 and a high of $47.56. The current 50-day moving average is $44.73, while the 200-day moving average stands at $43.91. HSBC Holdings plc boasts a market capitalization of $98.58 billion, a price-to-earnings (P/E) ratio of 7.43, and a beta of 0.56. Its financial ratios include a debt-to-equity ratio of 0.52, with both the current and quick ratios at 0.96.

HSBC Dividend Announcement

Additionally, HSBC has announced a quarterly dividend to be paid on December 19th. Shareholders recorded as of November 8th will receive a dividend of $0.50 per share, translating to an annualized dividend of $2.00 and a yield of 4.45%. The ex-dividend date is also set for November 8th. Notably, HSBC's dividend payout ratio is 32.73%.

About HSBC

HSBC Holdings plc is a global banking and financial services company. It operates across various segments, including Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets. The Wealth and Personal Banking division provides retail banking, wealth products, current and savings accounts, mortgages, loans, credit and debit cards, along with local and international payment services, in addition to wealth management services.

HSBC, Investments, Finance