HSBC Holdings plc (NYSE:HSBC) Receives Average Rating of “Hold” from Analysts

Shares of HSBC Holdings plc (NYSE:HSBC) have earned an average recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $63.00.

Separately, Bank of America reiterated a “neutral” rating and issued a $63.00 price target on shares of HSBC in a report on Tuesday, June 3rd.

HSBC Trading Down 0.5%

NYSE HSBC opened at $64.50 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm has a market cap of $225.20 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.44 and a beta of 0.65. The company has a 50 day moving average price of $62.98 and a 200 day moving average price of $58.93. HSBC has a 52 week low of $42.38 and a 52 week high of $66.05.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.62 by $0.33. The firm had revenue of $16.90 billion during the quarter, compared to analyst estimates of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.73%. As a group, sell-side analysts forecast that HSBC will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 15th will be given a $0.495 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.1%. HSBC’s payout ratio is 39.21%.

Hedge Funds Weigh In On HSBC

Several hedge funds and other institutional investors have recently made changes to their positions in HSBC. NewSquare Capital LLC grew its position in shares of HSBC by 152.6% in the second quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 261 shares in the last quarter. TD Private Client Wealth LLC boosted its position in shares of HSBC by 101.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 234 shares during the period. Opal Wealth Advisors LLC acquired a new stake in HSBC during the 2nd quarter worth approximately $31,000. Wayfinding Financial LLC acquired a new stake in HSBC during the 1st quarter worth approximately $30,000. Finally, Raleigh Capital Management Inc. acquired a new stake in HSBC during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

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.