HSBC Holdings PLC (HSBC) Lifted to Strong-Buy at BidaskClub

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.

Analyst Recommendations for HSBC Holdings PLC (NYSE:HSBC)

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