HSBC Holdings plc (NYSE:HSBC) Stock Has Average Target Price of $97.00 According to Brokerages

HSBC Holdings plc (NYSE:HSBC – Get Free Report) has been assigned an average rating of “Hold” from the sixteen brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $97.00.

HSBC has been the subject of several recent analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of HSBC in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a “neutral” rating on shares of HSBC in a report on Wednesday, August 5th. Shore Capital Group lowered shares of HSBC to a “sell” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada restated a “sector perform” rating on shares of HSBC in a report on Monday, August 17th. Finally, Keefe, Bruyette & Woods downgraded HSBC from a “moderate buy” rating to a “hold” rating in a research report on Sunday, September 13th.

Read Our Latest Research Report on HSBC

Hedge Funds Weigh In On HSBC

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantinno Capital Management LP boosted its holdings in HSBC by 20.9% in the 1st quarter. Quantinno Capital Management LP now owns 525,775 shares of the financial services provider’s stock valued at $43,371,000 after purchasing an additional 90,711 shares during the period. Engineers Gate Manager LP bought a new position in shares of HSBC during the 2nd quarter worth about $4,412,000. Bessemer Group Inc. increased its holdings in shares of HSBC by 1,921.0% during the 1st quarter. Bessemer Group Inc. now owns 38,056 shares of the financial services provider’s stock worth $3,139,000 after purchasing an additional 36,173 shares during the period. Signal Advisors Wealth LLC acquired a new position in shares of HSBC during the third quarter valued at about $1,325,000. Finally, QRG Capital Management Inc. raised its position in shares of HSBC by 13.4% during the second quarter. QRG Capital Management Inc. now owns 264,385 shares of the financial services provider’s stock valued at $25,140,000 after buying an additional 31,191 shares during the last quarter. Institutional investors own 1.48% of the company’s stock.

HSBC Stock Performance

Shares of HSBC stock opened at $85.44 on Friday. The stock has a market cap of $292.92 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 0.94 and a beta of 0.58. The business has a fifty day simple moving average of $98.46 and a 200-day simple moving average of $93.33. The company has a quick ratio of 0.92, a current ratio of 0.89 and a debt-to-equity ratio of 0.53. HSBC has a 12 month low of $67.56 and a 12 month high of $107.92.

HSBC (NYSE:HSBC – Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $2.10 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.10). HSBC had a net margin of 19.59% and a return on equity of 14.33%. The company had revenue of $18.68 billion for the quarter, compared to analysts’ expectations of $18.98 billion. On average, sell-side analysts anticipate that HSBC will post 8.48 EPS for the current fiscal year.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, November 6th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, November 6th. HSBC’s dividend payout ratio is currently 25.71%.

Key Stories Impacting HSBC

Here are the key news stories impacting HSBC this week:

HSBC Company Profile

(Get Free Report)

HSBC Holdings plc is a global banking and financial services company headquartered in London. Its principal subsidiary, The Hongkong and Shanghai Banking Corporation, was established in 1865 to facilitate trade between Europe and Asia. HSBC’s shares trade on the New York Stock Exchange in the form of American depositary receipts under the symbol HSBC.

The company provides personal and wealth banking, commercial banking, corporate and institutional banking, investment banking, global markets, and asset management services.

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Analyst Recommendations for HSBC (NYSE:HSBC)

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