HSBC (NYSE:HSBC) Stock Rating Lowered by Erste Group Bank

HSBC (NYSE:HSBC) was downgraded by equities research analysts at Erste Group Bank from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Marketbeat reports.

A number of other research analysts have also commented on HSBC. Weiss Ratings lowered HSBC from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of HSBC in a report on Tuesday, June 23rd. BNP Paribas Exane downgraded shares of HSBC from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 14th. The Goldman Sachs Group began coverage on shares of HSBC in a report on Thursday, March 26th. They set a “buy” rating for the company. Finally, Zacks Research lowered HSBC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

HSBC Stock Up 0.9%

HSBC traded up $0.89 during midday trading on Wednesday, hitting $100.14. 381,475 shares of the company’s stock traded hands, compared to its average volume of 1,954,536. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $344.15 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 0.87 and a beta of 0.57. HSBC has a one year low of $60.61 and a one year high of $100.80. The stock’s fifty day simple moving average is $93.45 and its 200-day simple moving average is $88.26.

HSBC (NYSE:HSBC) last released its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. The business had revenue of $19.12 billion during the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. As a group, equities analysts anticipate that HSBC will post 8.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HSBC news, insider Daniel Scott Palomaki sold 23,123 shares of HSBC stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.11, for a total transaction of $418,757.53. Following the completion of the transaction, the insider directly owned 4,973 shares of the company’s stock, valued at approximately $90,061.03. This trade represents a 82.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On HSBC

Several institutional investors have recently added to or reduced their stakes in HSBC. Transamerica Financial Advisors LLC raised its stake in shares of HSBC by 287.1% in the fourth quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 244 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in HSBC during the 3rd quarter valued at about $26,000. Binnacle Investments Inc grew its stake in shares of 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 purchasing an additional 198 shares during the period. Ballast Advisors LLC acquired a new position in HSBC in the first quarter valued at about $36,000. Finally, Western Wealth Management LLC bought a new position in HSBC during the first quarter worth about $37,000. 1.48% of the stock is owned by institutional investors.

About HSBC

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.