Janney Montgomery Scott LLC Has $2.21 Million Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

Janney Montgomery Scott LLC trimmed its position in shares of HSBC Holdings plc (NYSE:HSBC) by 22.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,056 shares of the financial services provider’s stock after selling 16,416 shares during the period. Janney Montgomery Scott LLC’s holdings in HSBC were worth $2,206,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mission Wealth Management LP increased its stake in HSBC by 21.5% during the first quarter. Mission Wealth Management LP now owns 6,311 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 1,115 shares during the period. Norden Group LLC bought a new position in HSBC during the first quarter valued at about $211,000. Caprock Group LLC increased its stake in HSBC by 74.9% during the first quarter. Caprock Group LLC now owns 19,289 shares of the financial services provider’s stock valued at $789,000 after acquiring an additional 8,260 shares during the period. Allspring Global Investments Holdings LLC increased its stake in HSBC by 317.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,343 shares of the financial services provider’s stock valued at $407,000 after acquiring an additional 7,866 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in shares of HSBC by 8.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 49,736 shares of the financial services provider’s stock valued at $1,958,000 after purchasing an additional 4,021 shares during the period. 1.48% of the stock is currently owned by institutional investors.

HSBC Stock Up 1.0 %

Shares of HSBC opened at $43.78 on Friday. The company has a market capitalization of $164.21 billion, a P/E ratio of 7.55, a PEG ratio of 1.03 and a beta of 0.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.96 and a quick ratio of 0.96. HSBC Holdings plc has a one year low of $35.30 and a one year high of $45.46. The business’s 50 day simple moving average is $44.03 and its 200-day simple moving average is $41.24.

HSBC (NYSE:HSBC) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $1.70 EPS for the quarter. The business had revenue of $20.75 billion for the quarter. HSBC had a return on equity of 10.80% and a net margin of 16.13%. As a group, sell-side analysts predict that HSBC Holdings plc will post 6.4 EPS for the current fiscal year.

HSBC Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, May 10th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Thursday, May 9th. HSBC’s dividend payout ratio is 34.14%.

Analysts Set New Price Targets

Separately, Barclays reiterated an “equal weight” rating on shares of HSBC in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $789.00.

About HSBC

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.