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

Key Points

• Janney Capital Management LLC has reduced its holdings in HSBC Holdings plc by 1.8% during the second quarter, now owning 228,266 shares valued at approximately $13.88 million.
• HSBC received multiple upgrades from analysts, with BNP Paribas changing its rating from "strong sell" to "strong-buy" and Bank of America maintaining a "neutral" rating with a target price of $63.00.
• The company reported $1.95 EPS for the last quarter, exceeding estimates, while also declaring a $0.495 quarterly dividend that reflects a yield of 2.8%.

Janney Capital Management LLC reduced its holdings in HSBC Holdings plc (NYSE:HSBC - Free Report) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HSBC. TD Private Client Wealth LLC boosted its holdings in shares of HSBC by 101.7% in the 2nd 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 in the last quarter. Wayfinding Financial LLC acquired a new position in shares of HSBC in the 1st quarter worth approximately $30,000. Opal Wealth Advisors LLC acquired a new position in shares of HSBC in the 2nd quarter worth approximately $31,000. Garde Capital Inc. acquired a new position in shares of HSBC in the 1st quarter worth approximately $43,000. Finally, Elequin Capital LP boosted its holdings in shares of 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 acquiring an additional 570 shares in the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HSBC has been the topic of a number of recent research reports. BNP Paribas upgraded HSBC from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, September 5th. Citigroup reissued a "buy" rating on shares of HSBC in a research note on Monday, September 22nd. BNP Paribas Exane raised HSBC from an "underperform" rating to an "outperform" rating in a research note on Friday, September 5th. Finally, Bank of America reissued a "neutral" rating and issued a $63.00 target price on shares of HSBC in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, HSBC has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

HSBC Stock Performance

Shares of HSBC stock opened at $70.41 on Tuesday. The firm has a fifty day moving average of $65.75 and a two-hundred day moving average of $60.49. The stock has a market capitalization of $244.36 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.56 and a beta of 0.65. HSBC Holdings plc has a 52 week low of $43.81 and a 52 week high of $71.04. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86.

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

HSBC Announces Dividend

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

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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