HSBC Holdings plc (NYSE:HSBC – Get Rating) has received an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $615.57.
A number of research analysts recently weighed in on HSBC shares. BNP Paribas lowered shares of HSBC from a “neutral” rating to an “underperform” rating in a research report on Friday. Barclays lifted their price objective on shares of HSBC from GBX 720 ($8.70) to GBX 780 ($9.42) in a research report on Tuesday, August 2nd. Investec raised shares of HSBC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 15th. The Goldman Sachs Group lowered shares of HSBC from a “buy” rating to a “neutral” rating in a research report on Thursday, August 4th. Finally, Morgan Stanley lifted their price objective on shares of HSBC from GBX 590 ($7.13) to GBX 624 ($7.54) in a research report on Wednesday, July 6th.
HSBC Trading Up 1.1 %
HSBC opened at $30.90 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 0.55. The stock has a market cap of $125.53 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 0.45 and a beta of 0.50. The company has a fifty day moving average of $31.72 and a 200-day moving average of $32.32. HSBC has a twelve month low of $24.31 and a twelve month high of $38.61.
HSBC Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, August 19th will be issued a $0.45 dividend. The ex-dividend date is Thursday, August 18th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.83%. HSBC’s payout ratio is 40.00%.
Institutional Investors Weigh In On HSBC
A number of hedge funds have recently made changes to their positions in HSBC. Bank of America Corp DE raised its holdings in HSBC by 26.7% during the 4th quarter. Bank of America Corp DE now owns 353,907 shares of the financial services provider’s stock valued at $10,671,000 after buying an additional 74,646 shares during the last quarter. UMB Bank N A MO purchased a new position in HSBC during the 4th quarter valued at $52,000. BNP Paribas Arbitrage SA increased its position in HSBC by 1,673.2% during the 4th quarter. BNP Paribas Arbitrage SA now owns 26,048 shares of the financial services provider’s stock valued at $785,000 after purchasing an additional 24,579 shares during the period. HighTower Advisors LLC increased its position in HSBC by 30.7% during the 4th quarter. HighTower Advisors LLC now owns 15,864 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 3,729 shares during the period. Finally, JPMorgan Chase & Co. increased its position in HSBC by 3.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,374,145 shares of the financial services provider’s stock valued at $101,730,000 after purchasing an additional 124,185 shares during the period. 1.34% of the stock is currently owned by institutional investors.
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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