HSBC Holdings PLC (HSBC) Downgraded by BidaskClub
BidaskClub cut shares of HSBC Holdings PLC (NYSE:HSBC) from a buy rating to a hold rating in a report issued on Saturday morning.
Several other brokerages also recently issued reports on HSBC. Zacks Investment Research downgraded HSBC Holdings PLC from a strong-buy rating to a hold rating in a research report on Tuesday, July 11th. Morgan Stanley upgraded HSBC Holdings PLC from an equal weight rating to an overweight rating in a research report on Wednesday, June 28th. Finally, Berenberg Bank downgraded HSBC Holdings PLC from a buy rating to a hold rating in a research report on Wednesday, July 5th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $36.67.
HSBC Holdings PLC (NYSE HSBC) opened at 47.91 on Friday. HSBC Holdings PLC has a 12-month low of $35.34 and a 12-month high of $50.86. The stock’s 50 day moving average price is $48.23 and its 200 day moving average price is $43.68. The stock has a market cap of $194.22 billion, a price-to-earnings ratio of 97.78 and a beta of 0.89.
HSBC Holdings PLC (NYSE:HSBC) last issued its quarterly earnings data on Monday, July 31st. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $13.17 billion for the quarter. Analysts forecast that HSBC Holdings PLC will post $2.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Friday, August 4th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 2nd. This represents a $2.00 annualized dividend and a yield of 4.17%. HSBC Holdings PLC’s dividend payout ratio (DPR) is presently 400.01%.
A number of institutional investors have recently added to or reduced their stakes in HSBC. Quantitative Systematic Strategies LLC acquired a new position in HSBC Holdings PLC during the first quarter valued at $394,000. Toronto Dominion Bank increased its position in HSBC Holdings PLC by 11.4% in the first quarter. Toronto Dominion Bank now owns 3,919 shares of the financial services provider’s stock valued at $160,000 after buying an additional 400 shares during the period. Massachusetts Financial Services Co. MA increased its position in 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 buying an additional 10,841 shares during the period. Greenleaf Trust increased its position in 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 buying an additional 2,877 shares during the period. Finally, Sit Investment Associates Inc. increased its position in HSBC Holdings PLC by 46.8% in the first quarter. Sit Investment Associates Inc. now owns 74,765 shares of the financial services provider’s stock valued at $3,052,000 after buying an additional 23,825 shares during the period. Hedge funds and other institutional investors own 2.26% 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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