Brokerages Set HSBC Holdings plc (NYSE:HSBC) Price Target at $63.00

Shares of HSBC Holdings plc (NYSE:HSBCGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $63.00.

Several analysts recently commented on the company. Morgan Stanley began coverage on HSBC in a report on Wednesday, January 14th. They set an “equal weight” rating on the stock. Zacks Research cut shares of HSBC from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. Keefe, Bruyette & Woods upgraded shares of HSBC from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, December 17th. Bank of America upgraded shares of HSBC from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings upgraded shares of HSBC from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 16th.

Get Our Latest Stock Report on HSBC

Institutional Investors Weigh In On HSBC

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mather Group LLC. purchased a new stake in shares of HSBC in the 3rd quarter valued at approximately $25,000. Transamerica Financial Advisors LLC lifted its holdings in HSBC by 287.1% in the fourth quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 244 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in HSBC in the third quarter worth approximately $26,000. Retirement Wealth Solutions LLC acquired a new stake in HSBC during the third quarter worth $32,000. Finally, Binnacle Investments Inc raised its position in HSBC by 80.5% in the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 198 shares during the period. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting HSBC

Here are the key news stories impacting HSBC this week:

HSBC Stock Performance

HSBC opened at $76.92 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62. HSBC has a 12-month low of $45.66 and a 12-month high of $94.79. The firm has a 50 day moving average of $85.76 and a two-hundred day moving average of $76.66. The firm has a market capitalization of $264.21 billion, a PE ratio of 12.71, a P/E/G ratio of 0.80 and a beta of 0.50.

HSBC (NYSE:HSBCGet Free Report) last posted its earnings results on Wednesday, February 25th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.25. The company had revenue of $17.72 billion during the quarter, compared to the consensus estimate of $17.01 billion. HSBC had a net margin of 16.07% and a return on equity of 13.10%. On average, analysts anticipate that HSBC will post 6.66 EPS for the current year.

HSBC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, March 13th will be issued a dividend of $2.25 per share. The ex-dividend date is Friday, March 13th. This represents a $9.00 annualized dividend and a dividend yield of 11.7%. This is a boost from HSBC’s previous quarterly dividend of $0.50. HSBC’s payout ratio is presently 148.43%.

HSBC Company Profile

(Get Free Report)

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.

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Analyst Recommendations for HSBC (NYSE:HSBC)

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