Credit Suisse Group cut shares of HSBC Holdings PLC (NYSE:HSBC) from a neutral rating to an underperform rating in a report published on Tuesday morning.

A number of other research firms also recently issued reports on HSBC. Zacks Investment Research downgraded shares of HSBC Holdings PLC from a buy rating to a hold rating in a report on Tuesday, August 22nd. BidaskClub raised shares of HSBC Holdings PLC from a hold rating to a buy rating in a report on Monday, July 31st. Morgan Stanley raised shares of HSBC Holdings PLC from an equal weight rating to an overweight rating in a report on Wednesday, June 28th. Jefferies Group LLC started coverage on shares of HSBC Holdings PLC in a report on Monday, September 4th. They issued a buy rating on the stock. Finally, Berenberg Bank downgraded shares of HSBC Holdings PLC from a buy rating to a hold rating in a report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. HSBC Holdings PLC currently has a consensus rating of Hold and an average target price of $36.00.

HSBC Holdings PLC (HSBC) traded down 1.44% during mid-day trading on Tuesday, hitting $49.87. 445,015 shares of the stock traded hands. HSBC Holdings PLC has a 1-year low of $36.79 and a 1-year high of $50.86. The company’s 50 day moving average price is $48.60 and its 200-day moving average price is $45.60. The stock has a market cap of $200.04 billion, a price-to-earnings ratio of 712.43 and a beta of 0.87.

HSBC Holdings PLC (NYSE:HSBC) last posted its quarterly earnings data on Monday, July 31st. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The company had revenue of $13.17 billion for 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 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Friday, August 4th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Wednesday, August 2nd. HSBC Holdings PLC’s payout ratio is 400.01%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its stake in HSBC Holdings PLC by 9.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 131,437 shares of the financial services provider’s stock worth $5,365,000 after acquiring an additional 10,841 shares during the period. Greenleaf Trust raised its stake in HSBC Holdings PLC by 26.8% during the 2nd quarter. Greenleaf Trust now owns 13,595 shares of the financial services provider’s stock worth $631,000 after acquiring an additional 2,877 shares during the period. American Assets Investment Management LLC raised its stake in HSBC Holdings PLC by 2.6% during the 2nd quarter. American Assets Investment Management LLC now owns 79,059 shares of the financial services provider’s stock worth $3,668,000 after acquiring an additional 2,006 shares during the period. Oppenheimer & Co. Inc. raised its stake in HSBC Holdings PLC by 12.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 20,302 shares of the financial services provider’s stock worth $941,000 after acquiring an additional 2,216 shares during the period. Finally, Baldwin Investment Management LLC raised its stake in HSBC Holdings PLC by 1.4% during the 2nd quarter. Baldwin Investment Management LLC now owns 7,219 shares of the financial services provider’s stock worth $335,000 after acquiring an additional 99 shares during the period. Institutional investors own 2.23% 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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