Janney Capital Management LLC Has $13.88 Million Holdings in HSBC Holdings plc $HSBC

Janney Capital Management LLC lessened its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 1.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 228,266 shares of the financial services provider’s stock after selling 4,233 shares during the quarter. Janney Capital Management LLC’s holdings in HSBC were worth $13,876,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its stake in HSBC by 101.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after buying an additional 234 shares during the period. Opal Wealth Advisors LLC acquired a new position in HSBC in the 2nd quarter worth $31,000. Wayfinding Financial LLC acquired a new position in HSBC in the 1st quarter worth $30,000. Garde Capital Inc. acquired a new position in HSBC in the 1st quarter worth $43,000. Finally, Elequin Capital LP boosted its stake in HSBC by 282.2% in the 1st quarter. Elequin Capital LP now owns 772 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 570 shares during the period. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analyst Upgrades and Downgrades

HSBC has been the subject of a number of research analyst reports. Citigroup reaffirmed a “buy” rating on shares of HSBC in a research note on Monday, September 22nd. Bank of America reaffirmed a “neutral” rating and issued a $63.00 target price on shares of HSBC in a research note on Tuesday, June 3rd. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Finally, BNP Paribas upgraded shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, HSBC presently has an average rating of “Moderate Buy” and an average price target of $63.00.

HSBC Trading Up 0.8%

HSBC stock opened at $70.41 on Tuesday. The firm has a 50-day moving average of $65.75 and a 200-day moving average of $60.49. HSBC Holdings plc has a one year low of $43.81 and a one year high of $71.04. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.93. The company has a market cap of $244.36 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.56 and a beta of 0.65.

HSBC (NYSE:HSBC) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The business had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $16.64 billion. On average, equities analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 15th were paid a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, August 15th. HSBC’s dividend payout ratio (DPR) is 39.21%.

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.