HSBC Holdings plc $HSBC Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC has reduced its stake in HSBC Holdings plc by 20.8%, now holding 47,816 shares valued at approximately $2.9 million.
• HSBC reported a quarterly earnings per share (EPS) of $1.95, exceeding analyst expectations of $1.62, along with a revenue of $16.90 billion for the quarter.
• The company's recent quarterly dividend paid was $0.495, with an annualized dividend yield of 2.9% and a payout ratio of 39.21%.

Janney Montgomery Scott LLC trimmed its position in HSBC Holdings plc (NYSE:HSBC - Free Report) by 20.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,816 shares of the financial services provider's stock after selling 12,585 shares during the quarter. Janney Montgomery Scott LLC's holdings in HSBC were worth $2,907,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in HSBC by 0.6% in the 2nd quarter. Signaturefd LLC now owns 59,106 shares of the financial services provider's stock valued at $3,593,000 after purchasing an additional 376 shares during the last quarter. Kathmere Capital Management LLC boosted its holdings in HSBC by 7.0% in the 2nd quarter. Kathmere Capital Management LLC now owns 17,627 shares of the financial services provider's stock valued at $1,072,000 after purchasing an additional 1,160 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in HSBC by 101.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 234 shares during the last quarter. Tepp RIA LLC lifted its holdings in shares of HSBC by 27.2% in the 2nd quarter. Tepp RIA LLC now owns 10,068 shares of the financial services provider's stock worth $612,000 after acquiring an additional 2,150 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in shares of HSBC in the 2nd quarter worth approximately $31,000. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Trading Down 5.9%

Shares of NYSE:HSBC opened at $67.31 on Friday. HSBC Holdings plc has a 52 week low of $43.81 and a 52 week high of $72.21. The company's 50 day moving average is $66.84 and its two-hundred day moving average is $61.16. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a market cap of $233.60 billion, a PE ratio of 13.33, a P/E/G ratio of 1.58 and a beta of 0.62.

HSBC (NYSE:HSBC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The company had revenue of $16.90 billion for the quarter, compared to the consensus estimate of $16.64 billion. Equities analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 15th were given a $0.495 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.9%. HSBC's dividend payout ratio is currently 39.21%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HSBC shares. BNP Paribas Exane upgraded shares of HSBC from an "underperform" rating to an "outperform" rating in a report on Friday, September 5th. Citigroup restated a "buy" rating on shares of HSBC in a report on Monday, September 22nd. BNP Paribas upgraded shares of HSBC from a "strong sell" rating to a "strong-buy" rating in a report on Friday, September 5th. Zacks Research lowered shares of HSBC from a "strong-buy" rating to a "hold" rating in a report on Friday, October 3rd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of HSBC in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $63.00.

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.

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