Cordasco Financial Network decreased its position in HSBC Holdings PLC (NYSE:HSBC) by 20.7% during the second quarter, Holdings Channel reports. The firm owned 4,349 shares of the company’s stock after selling 1,136 shares during the period. Cordasco Financial Network’s holdings in HSBC Holdings PLC were worth $136,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of HSBC. BTC Capital Management Inc. increased its stake in HSBC Holdings PLC by 0.7% in the first quarter. BTC Capital Management Inc. now owns 14,152 shares of the company’s stock valued at $439,000 after buying an additional 95 shares during the last quarter. Scotia Capital Inc. increased its stake in HSBC Holdings PLC by 2.5% in the first quarter. Scotia Capital Inc. now owns 18,530 shares of the company’s stock valued at $577,000 after buying an additional 457 shares during the last quarter. Rothschild Investment Corp IL increased its stake in HSBC Holdings PLC by 7.0% in the second quarter. Rothschild Investment Corp IL now owns 7,652 shares of the company’s stock valued at $240,000 after buying an additional 500 shares during the last quarter. Logan Capital Management Inc. increased its stake in HSBC Holdings PLC by 2.5% in the first quarter. Logan Capital Management Inc. now owns 22,754 shares of the company’s stock valued at $709,000 after buying an additional 562 shares during the last quarter. Finally, HHG & Company LLC increased its stake in HSBC Holdings PLC by 5.2% in the first quarter. HHG & Company LLC now owns 16,854 shares of the company’s stock valued at $524,000 after buying an additional 832 shares during the last quarter. 2.43% of the stock is currently owned by institutional investors and hedge funds.

Shares of HSBC Holdings PLC (NYSE:HSBC) traded up 1.53% during trading on Monday, hitting $37.74. 2,221,156 shares of the stock were exchanged. The firm’s 50-day moving average is $36.09 and its 200 day moving average is $32.88. HSBC Holdings PLC has a 1-year low of $28.62 and a 1-year high of $40.96. The company has a market cap of $134.65 billion, a P/E ratio of 15.63 and a beta of 1.22.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Friday, August 12th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $2.00 annualized dividend and a dividend yield of 5.30%. HSBC Holdings PLC’s payout ratio is currently 81.63%.

HSBC has been the subject of a number of analyst reports. BNP Paribas upgraded shares of HSBC Holdings PLC from an “underperform” rating to a “neutral” rating in a report on Monday, June 27th. Societe Generale restated a “buy” rating on shares of HSBC Holdings PLC in a report on Monday, June 20th. Deutsche Bank AG restated a “hold” rating on shares of HSBC Holdings PLC in a report on Thursday, May 26th. Beaufort Securities restated a “buy” rating on shares of HSBC Holdings PLC in a report on Friday, August 5th. Finally, Citigroup Inc. lowered shares of HSBC Holdings PLC from a “buy” rating to a “neutral” rating in a report on Tuesday, September 13th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $36.48.

HSBC Holdings PLC Company Profile

HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through approximately four businesses, such as Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB).

5 Day Chart for NYSE:HSBC

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