HSBC Holdings plc (HSBC) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of HSBC Holdings plc (NYSE:HSBC) from a sell rating to a hold rating in a research report sent to investors on Saturday.

A number of other research analysts have also recently commented on HSBC. Zacks Investment Research raised shares of HSBC Holdings plc from a hold rating to a buy rating and set a $56.00 target price on the stock in a research report on Wednesday, August 2nd. Morgan Stanley reissued a buy rating on shares of HSBC Holdings plc in a research report on Wednesday, August 16th. Jefferies Group LLC assumed coverage on shares of HSBC Holdings plc in a research report on Monday, September 4th. They set a buy rating on the stock. Canaccord Genuity reissued a hold rating and set a $9.00 price target on shares of HSBC Holdings plc in a research report on Tuesday, September 5th. Finally, Credit Suisse Group AG cut shares of HSBC Holdings plc from a neutral rating to an underperform rating in a research report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $31.33.

HSBC Holdings plc (NYSE:HSBC) opened at $48.32 on Friday. HSBC Holdings plc has a 1 year low of $38.95 and a 1 year high of $50.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $193,500.00, a PE ratio of 24.48, a price-to-earnings-growth ratio of 2.54 and a beta of 0.93.

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Several hedge funds have recently added to or reduced their stakes in HSBC. Bronfman E.L. Rothschild L.P. increased its stake in shares of HSBC Holdings plc by 16.0% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,208 shares of the financial services provider’s stock worth $102,000 after buying an additional 304 shares during the period. LS Investment Advisors LLC increased its stake in shares of HSBC Holdings plc by 2.6% during the second quarter. LS Investment Advisors LLC now owns 2,338 shares of the financial services provider’s stock worth $108,000 after buying an additional 59 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of HSBC Holdings plc by 89.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,413 shares of the financial services provider’s stock worth $112,000 after buying an additional 1,139 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of HSBC Holdings plc by 1.8% during the second quarter. UBS Asset Management Americas Inc. now owns 2,477 shares of the financial services provider’s stock worth $115,000 after buying an additional 43 shares during the period. Finally, Zions Bancorporation increased its stake in shares of HSBC Holdings plc by 374.8% during the third quarter. Zions Bancorporation now owns 3,010 shares of the financial services provider’s stock worth $149,000 after buying an additional 2,376 shares during the period. Hedge funds and other institutional investors own 2.25% of the company’s stock.

HSBC Holdings plc Company Profile

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.

Analyst Recommendations for HSBC Holdings plc (NYSE:HSBC)

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