HSBC (NYSE:HSBC) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of HSBC (NYSE:HSBCFree Report) in a research note published on Thursday morning. The brokerage issued a buy rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of HSBC from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, December 17th. Weiss Ratings upgraded shares of HSBC from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 16th. Morgan Stanley assumed coverage on HSBC in a research report on Wednesday, January 14th. They set an “equal weight” rating for the company. Zacks Research lowered shares of HSBC from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Bank of America upgraded HSBC from a “neutral” rating to a “buy” rating in a report on Wednesday, December 10th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Get Our Latest Stock Analysis on HSBC

HSBC Stock Down 2.0%

HSBC stock opened at $79.58 on Thursday. HSBC has a 52 week low of $45.66 and a 52 week high of $94.79. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62. The stock has a market cap of $273.35 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 0.84 and a beta of 0.50. The company’s 50-day moving average price is $85.61 and its two-hundred day moving average price is $76.91.

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

HSBC Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 13th will be issued a $2.25 dividend. This is an increase from HSBC’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 13th. This represents a $9.00 annualized dividend and a yield of 11.3%. HSBC’s dividend payout ratio is presently 148.43%.

Hedge Funds Weigh In On HSBC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Shilanski & Associates Inc. acquired a new stake in HSBC during the third quarter worth about $5,141,000. Wedbush Securities Inc. raised its holdings in HSBC by 101.3% in the 3rd quarter. Wedbush Securities Inc. now owns 26,822 shares of the financial services provider’s stock valued at $1,904,000 after acquiring an additional 13,495 shares in the last quarter. Foresight Global Investors Inc. acquired a new position in HSBC in the 3rd quarter valued at approximately $12,810,000. American Century Companies Inc. lifted its position in shares of HSBC by 14.7% in the 3rd quarter. American Century Companies Inc. now owns 1,311,820 shares of the financial services provider’s stock worth $93,113,000 after acquiring an additional 168,438 shares during the period. Finally, Dynasty Wealth Management LLC acquired a new stake in shares of HSBC during the 3rd quarter worth approximately $1,563,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC News Summary

Here are the key news stories impacting HSBC this week:

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.

Further Reading

Analyst Recommendations for HSBC (NYSE:HSBC)

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