BidaskClub upgraded shares of HSBC Holdings PLC (NYSE:HSBC) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday, July 13th.
A number of other brokerages have also commented on HSBC. Zacks Investment Research raised HSBC Holdings PLC from a hold rating to a buy rating and set a $49.00 price objective on the stock in a report on Thursday, May 11th. 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 downgraded HSBC Holdings PLC from a buy rating to a hold rating in a research note on Wednesday, July 5th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $36.62.
HSBC Holdings PLC (NYSE HSBC) opened at 49.78 on Thursday. The firm has a 50-day moving average of $47.21 and a 200-day moving average of $43.32. HSBC Holdings PLC has a 52-week low of $34.82 and a 52-week high of $50.86. The firm has a market cap of $201.80 billion, a PE ratio of 101.59 and a beta of 0.89.
HSBC Holdings PLC (NYSE:HSBC) last issued its earnings results on Monday, July 31st. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $13.17 billion for the quarter. Equities analysts anticipate that HSBC Holdings PLC will post $2.95 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Friday, August 4th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $2.00 annualized dividend and a dividend yield of 4.02%. HSBC Holdings PLC’s dividend payout ratio (DPR) is currently 400.01%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Harding Loevner LP raised its position in HSBC Holdings PLC by 9.5% in the first quarter. Harding Loevner LP now owns 2,042,223 shares of the financial services provider’s stock valued at $83,364,000 after buying an additional 177,452 shares in the last quarter. Raymond James Trust N.A. raised its position in HSBC Holdings PLC by 39.3% in the first quarter. Raymond James Trust N.A. now owns 8,976 shares of the financial services provider’s stock valued at $367,000 after buying an additional 2,531 shares in the last quarter. Quadrant Capital Group LLC raised its position in HSBC Holdings PLC by 8.3% in the first quarter. Quadrant Capital Group LLC now owns 6,876 shares of the financial services provider’s stock valued at $269,000 after buying an additional 526 shares in the last quarter. Gradient Investments LLC raised its position in HSBC Holdings PLC by 3,252.7% in the first quarter. Gradient Investments LLC now owns 6,303 shares of the financial services provider’s stock valued at $257,000 after buying an additional 6,115 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in HSBC Holdings PLC by 4.3% in the first quarter. Capstone Asset Management Co. now owns 353,371 shares of the financial services provider’s stock valued at $14,425,000 after buying an additional 14,600 shares in the last quarter. Institutional investors and hedge funds own 2.33% of the company’s stock.
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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