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.

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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.

Analyst Recommendations for HSBC Holdings PLC (NYSE:HSBC)

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