HSBC’s (HSBC) Neutral Rating Reaffirmed at Bank of America

Bank of America reaffirmed their neutral rating on shares of HSBC (NYSE:HSBC) in a research report released on Tuesday, Marketbeat Ratings reports. The firm currently has a $63.00 price objective on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on the company. Barclays raised HSBC from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. Wall Street Zen raised HSBC from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. UBS Group reissued a “neutral” rating on shares of HSBC in a research note on Thursday, March 6th. Royal Bank of Canada reissued a “sector perform” rating on shares of HSBC in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft cut HSBC from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $63.00.

HSBC Price Performance

Shares of HSBC opened at $59.40 on Tuesday. HSBC has a 12-month low of $39.42 and a 12-month high of $61.88. The business has a 50-day simple moving average of $55.52 and a two-hundred day simple moving average of $53.30. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. The stock has a market cap of $209.94 billion, a PE ratio of 9.58, a PEG ratio of 1.05 and a beta of 0.53.

HSBC (NYSE:HSBC) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.35. HSBC had a return on equity of 12.20% and a net margin of 16.17%. The business had revenue of $17.74 billion during the quarter, compared to analysts’ expectations of $16.60 billion. Analysts anticipate that HSBC will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, May 12th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a dividend yield of 3.5%. HSBC’s payout ratio is 36.33%.

Institutional Investors Weigh In On HSBC

Several institutional investors and hedge funds have recently made changes to their positions in HSBC. Contrarian Capital Management L.L.C. boosted its position in shares of HSBC by 425.4% during the 1st quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider’s stock valued at $72,687,000 after purchasing an additional 1,024,780 shares in the last quarter. Northern Trust Corp boosted its position in shares of HSBC by 52.0% during the 4th quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider’s stock valued at $137,563,000 after purchasing an additional 951,050 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of HSBC by 7,061.5% during the 1st quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider’s stock valued at $321,210,000 after purchasing an additional 551,501 shares in the last quarter. FMR LLC boosted its position in shares of HSBC by 18.1% during the 4th quarter. FMR LLC now owns 2,883,238 shares of the financial services provider’s stock valued at $142,605,000 after purchasing an additional 441,033 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of HSBC during the 4th quarter valued at about $17,815,000. Institutional investors own 1.48% of the company’s stock.

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.