Credit Suisse Group downgraded shares of HSBC Holdings PLC (NYSE:HSBC) from a neutral rating to an underperform rating in a research note published on Tuesday morning, MarketBeat.com reports.
Several other equities research analysts have also recently commented on HSBC. Jefferies Group LLC started coverage on HSBC Holdings PLC in a report on Monday, September 4th. They issued a buy rating for the company. Zacks Investment Research raised HSBC Holdings PLC from a hold rating to a buy rating and set a $54.00 price target for the company in a report on Monday, September 4th. BidaskClub cut HSBC Holdings PLC from a strong-buy rating to a buy rating in a report on Thursday, June 15th. Morgan Stanley raised HSBC Holdings PLC from an equal weight rating to an overweight rating in a report on Wednesday, June 28th. Finally, Berenberg Bank cut HSBC Holdings PLC from a buy rating to a hold rating in a report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $36.00.
Shares of HSBC Holdings PLC (NYSE:HSBC) opened at 49.23 on Tuesday. The company has a market cap of $199.57 billion, a P/E ratio of 100.47 and a beta of 0.87. HSBC Holdings PLC has a 1-year low of $36.93 and a 1-year high of $50.86. The firm has a 50-day moving average price of $48.77 and a 200-day moving average price of $45.72.
HSBC Holdings PLC (NYSE:HSBC) last announced its earnings results on Monday, July 31st. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. HSBC Holdings PLC had a return on equity of 2.08% and a net margin of 1.42%. The business had revenue of $13.17 billion during the quarter. On average, equities analysts expect that HSBC Holdings PLC will post $2.95 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Friday, August 4th were issued a $0.50 dividend. The ex-dividend date was Wednesday, August 2nd. This represents a $2.00 annualized dividend and a dividend yield of 4.06%. HSBC Holdings PLC’s dividend payout ratio is presently 400.01%.
Large investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of HSBC Holdings PLC by 9.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 131,437 shares of the financial services provider’s stock valued at $5,365,000 after purchasing an additional 10,841 shares during the last quarter. Greenleaf Trust increased its holdings in shares of HSBC Holdings PLC by 26.8% in the second quarter. Greenleaf Trust now owns 13,595 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 2,877 shares during the last quarter. American Assets Investment Management LLC increased its stake in HSBC Holdings PLC by 2.6% during the second quarter. American Assets Investment Management LLC now owns 79,059 shares of the financial services provider’s stock worth $3,668,000 after acquiring an additional 2,006 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in HSBC Holdings PLC by 12.3% during the second quarter. Oppenheimer & Co. Inc. now owns 20,302 shares of the financial services provider’s stock worth $941,000 after acquiring an additional 2,216 shares during the last quarter. Finally, Baldwin Investment Management LLC increased its stake in HSBC Holdings PLC by 1.4% during the second quarter. Baldwin Investment Management LLC now owns 7,219 shares of the financial services provider’s stock worth $335,000 after acquiring an additional 99 shares during the last quarter. 2.23% of the stock is owned by hedge funds and other institutional investors.
About HSBC Holdings PLC
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.
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