HSBC (NYSE:HSBC) Upgraded to Hold by BidaskClub

HSBC (NYSE:HSBC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday, November 11th.

Several other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of HSBC from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Canaccord Genuity reissued a “hold” rating and set a $9.00 price objective on shares of HSBC in a report on Tuesday, September 5th. Credit Suisse Group cut HSBC from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 10th. Jefferies Group began coverage on HSBC in a research note on Monday, September 4th. They issued a “buy” rating for the company. Finally, Morgan Stanley reissued a “buy” rating on shares of HSBC in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. HSBC currently has an average rating of “Hold” and a consensus price target of $31.50.

Shares of HSBC (HSBC) traded down $0.14 during mid-day trading on Friday, reaching $49.65. 1,995,983 shares of the company were exchanged, compared to its average volume of 1,634,718. HSBC has a fifty-two week low of $39.14 and a fifty-two week 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 capitalization of $198,650.00, a price-to-earnings ratio of 25.04, a P/E/G ratio of 2.60 and a beta of 0.93.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vantage Financial Partners Ltd. Inc. bought a new position in HSBC during the 3rd quarter worth $236,000. Bronfman E.L. Rothschild L.P. increased its position in HSBC by 16.0% during the 2nd 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 position in HSBC by 2.6% during the 2nd 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 position in shares of HSBC by 89.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,413 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 1,139 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in shares of HSBC by 1.8% in the second quarter. UBS Asset Management Americas Inc. now owns 2,477 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 4.69% of the company’s stock.

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HSBC 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 (NYSE:HSBC)

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