HSBC Holdings PLC (HSBC) Earns Buy Rating from Analysts at Jefferies Group LLC
Jefferies Group LLC initiated coverage on shares of HSBC Holdings PLC (NYSE:HSBC) in a research note published on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating on the financial services provider’s stock.
HSBC has been the subject of several other research reports. Zacks Investment Research upgraded shares of HSBC Holdings PLC from a hold rating to a buy rating and set a $56.00 target price for the company in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of HSBC Holdings PLC from a strong-buy rating to a buy rating in a research note on Thursday, June 15th. Finally, Berenberg Bank downgraded shares of HSBC Holdings PLC from a buy rating to a hold rating in a research note on Wednesday, July 5th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $36.00.
Shares of HSBC Holdings PLC (NYSE HSBC) opened at 47.58 on Monday. The company has a market cap of $192.88 billion, a P/E ratio of 97.10 and a beta of 0.88. The firm has a 50-day moving average of $48.51 and a 200-day moving average of $44.19. HSBC Holdings PLC has a 12-month low of $36.79 and a 12-month high of $50.86.
HSBC Holdings PLC (NYSE:HSBC) last posted 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. The firm had revenue of $13.17 billion during the quarter. HSBC Holdings PLC had a net margin of 1.42% and a return on equity of 2.08%. Analysts predict that HSBC Holdings PLC will post $2.95 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Friday, August 4th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $2.00 annualized dividend and a yield of 4.20%. HSBC Holdings PLC’s dividend payout ratio is currently 400.01%.
Large investors have recently modified their holdings of the stock. Toronto Dominion Bank grew its stake in HSBC Holdings PLC by 11.4% during the first quarter. Toronto Dominion Bank now owns 3,919 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 400 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in HSBC Holdings PLC by 9.0% during 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 acquiring an additional 10,841 shares in the last quarter. Greenleaf Trust grew its stake in HSBC Holdings PLC by 26.8% during the second quarter. Greenleaf Trust now owns 13,595 shares of the financial services provider’s stock valued at $631,000 after acquiring an additional 2,877 shares in the last quarter. American Assets Investment Management LLC grew its stake in HSBC Holdings PLC by 2.6% during the second quarter. American Assets Investment Management LLC now owns 79,059 shares of the financial services provider’s stock valued at $3,668,000 after acquiring an additional 2,006 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new position in HSBC Holdings PLC during the first quarter valued at approximately $265,000. 2.23% of the stock is owned by institutional investors.
HSBC Holdings PLC 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.
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