Caas Capital Management LP Has $2.24 Million Position in HSBC Holdings plc (NYSE:HSBC)

Caas Capital Management LP increased its stake in HSBC Holdings plc (NYSE:HSBC) by 172.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,596 shares of the financial services provider’s stock after acquiring an additional 31,403 shares during the quarter. HSBC comprises 0.3% of Caas Capital Management LP’s holdings, making the stock its 23rd largest holding. Caas Capital Management LP’s holdings in HSBC were worth $2,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new position in HSBC in the second quarter valued at $36,000. RFP Financial Group LLC grew its stake in HSBC by 126.1% during the first quarter. RFP Financial Group LLC now owns 1,031 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 575 shares during the period. Ridgewood Investments LLC acquired a new position in HSBC in the second quarter valued at approximately $47,000. Fifth Third Bancorp grew its position in shares of HSBC by 128.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock worth $59,000 after buying an additional 765 shares during the period. Finally, Allworth Financial LP lifted its position in shares of HSBC by 40.9% during the 3rd quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 397 shares during the period. Institutional investors own 1.48% of the company’s stock.

Analysts Set New Price Targets

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

HSBC Stock Performance

HSBC traded up $0.32 during trading on Friday, hitting $46.45. 250,194 shares of the company traded hands, compared to its average volume of 1,711,397. HSBC Holdings plc has a one year low of $36.63 and a one year high of $47.26. The stock’s fifty day moving average is $44.43 and its 200 day moving average is $43.66. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a market cap of $101.84 billion, a P/E ratio of 7.62 and a beta of 0.56.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter. HSBC had a net margin of 15.70% and a return on equity of 10.71%. The company had revenue of $16.54 billion during the quarter. As a group, equities analysts predict that HSBC Holdings plc will post 6.22 EPS for the current fiscal year.

HSBC Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Friday, November 8th. HSBC’s dividend payout ratio (DPR) is currently 32.73%.

HSBC Company 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.