IFP Advisors Inc Sells 22,323 Shares of HSBC Holdings plc $HSBC

Key Points

• IFP Advisors Inc sold 22,323 shares of HSBC Holdings plc, reducing its stake by 86.5% during the second quarter, leaving it with 3,481 shares valued at approximately $212,000.
• HSBC reported a quarterly earnings per share (EPS) of $1.95, exceeding analysts' expectations of $1.62, with total revenue of $16.90 billion for the quarter.
• The company recently announced a quarterly dividend of $0.495 per share, resulting in an annual yield of 3.0% and reflecting a dividend payout ratio (DPR) of 39.21%.

IFP Advisors Inc cut its stake in HSBC Holdings plc (NYSE:HSBC - Free Report) by 86.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,481 shares of the financial services provider's stock after selling 22,323 shares during the quarter. IFP Advisors Inc's holdings in HSBC were worth $212,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of HSBC. Westover Capital Advisors LLC increased its position in HSBC by 2.5% during the first quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider's stock worth $468,000 after acquiring an additional 200 shares during the period. Contravisory Investment Management Inc. increased its position in HSBC by 4.4% during the second quarter. Contravisory Investment Management Inc. now owns 4,972 shares of the financial services provider's stock worth $302,000 after acquiring an additional 210 shares during the period. Smartleaf Asset Management LLC increased its position in HSBC by 1.3% during the first quarter. Smartleaf Asset Management LLC now owns 17,094 shares of the financial services provider's stock worth $988,000 after acquiring an additional 223 shares during the period. TD Private Client Wealth LLC increased its position in HSBC by 101.7% during the second quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider's stock worth $28,000 after acquiring an additional 234 shares during the period. Finally, Larson Financial Group LLC increased its position in HSBC by 32.1% during the first quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider's stock worth $59,000 after acquiring an additional 249 shares during the period. 1.48% of the stock is owned by institutional investors.

HSBC Trading Down 0.3%

HSBC opened at $65.87 on Friday. The company's 50 day moving average is $67.31 and its 200-day moving average is $61.50. HSBC Holdings plc has a 1-year low of $43.97 and a 1-year high of $72.21. 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 $227.29 billion, a P/E ratio of 13.04, a PEG ratio of 1.73 and a beta of 0.62.

HSBC (NYSE:HSBC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $16.64 billion. Equities research analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 15th were given a dividend of $0.495 per share. The ex-dividend date was Friday, August 15th. This represents a $1.98 annualized dividend and a yield of 3.0%. HSBC's dividend payout ratio (DPR) is currently 39.21%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. BNP Paribas Exane raised shares of HSBC from an "underperform" rating to an "outperform" rating in a research report on Friday, September 5th. Citigroup reaffirmed a "buy" rating on shares of HSBC in a research report on Monday, September 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of HSBC in a research note on Wednesday, October 8th. Jefferies Financial Group reiterated a "hold" rating on shares of HSBC in a research note on Friday, October 10th. Finally, Zacks Research downgraded shares of HSBC from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, HSBC has an average rating of "Hold" and an average target price of $63.00.

HSBC 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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