HSBC (NYSE:HSBC) Now Covered by The Goldman Sachs Group

Analysts at The Goldman Sachs Group assumed coverage on shares of HSBC (NYSE:HSBCGet Free Report) in a report issued on Thursday. The firm set a “buy” rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Citigroup reissued a “buy” rating on shares of HSBC in a research report on Friday, January 9th. Bank of America raised HSBC from a “neutral” rating to a “buy” rating in a report on Wednesday, December 10th. Morgan Stanley initiated coverage on HSBC in a report on Wednesday, January 14th. They issued an “equal weight” rating for the company. Keefe, Bruyette & Woods raised HSBC from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, December 17th. Finally, Weiss Ratings raised HSBC from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 16th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Get Our Latest Stock Report on HSBC

HSBC Stock Down 0.6%

HSBC stock traded down $0.51 during mid-day trading on Thursday, hitting $80.71. The company had a trading volume of 278,242 shares, compared to its average volume of 2,284,308. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.62. HSBC has a 1 year low of $45.66 and a 1 year high of $94.79. The business has a fifty day moving average of $85.68 and a 200 day moving average of $76.89. The stock has a market cap of $277.24 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 0.82 and a beta of 0.50.

HSBC (NYSE:HSBCGet Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The financial services provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.25. HSBC had a net margin of 16.07% and a return on equity of 13.10%. The business had revenue of $17.72 billion during the quarter, compared to the consensus estimate of $17.01 billion. On average, sell-side analysts expect that HSBC will post 6.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HSBC

Hedge funds and other institutional investors have recently bought and sold shares of the company. Transamerica Financial Advisors LLC grew its stake in shares of HSBC by 287.1% during the 4th quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 244 shares during the period. Mather Group LLC. acquired a new stake in shares of HSBC in the third quarter valued at about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of HSBC in the third quarter valued at about $26,000. Binnacle Investments Inc boosted its holdings in HSBC by 80.5% during the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock worth $32,000 after buying an additional 198 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in HSBC during the third quarter worth about $32,000. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

HSBC News Roundup

Here are the key news stories impacting HSBC this week:

HSBC Company Profile

(Get Free Report)

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.

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