HSBC (NYSE:HSBC) Rating Lowered to Hold at Keefe, Bruyette & Woods

HSBC (NYSE:HSBCGet Free Report) was downgraded by stock analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating in a report issued on Sunday, Zacks reports.

Several other research analysts also recently commented on HSBC. Citigroup downgraded shares of HSBC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of HSBC in a research report on Tuesday, June 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HSBC in a research note on Monday, August 3rd. Wall Street Zen raised HSBC from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Finally, BNP Paribas Exane lowered shares of HSBC from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

View Our Latest Report on HSBC

HSBC Price Performance

HSBC opened at $104.00 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.92 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $357.13 billion, a P/E ratio of 14.75, a PEG ratio of 1.00 and a beta of 0.57. The stock has a 50-day moving average price of $103.07 and a 200-day moving average price of $94.22. HSBC has a 12-month low of $64.64 and a 12-month high of $107.92.

HSBC (NYSE:HSBCGet Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.01. The company had revenue of $19.04 billion for the quarter, compared to analysts’ expectations of $18.66 billion. HSBC had a return on equity of 13.80% and a net margin of 18.19%. Equities analysts predict that HSBC will post 8.56 earnings per share for the current fiscal year.

Institutional Trading of HSBC

Several institutional investors and hedge funds have recently bought and sold shares of HSBC. Westover Capital Advisors LLC boosted its stake in HSBC by 1.3% during the 1st quarter. Westover Capital Advisors LLC now owns 9,313 shares of the financial services provider’s stock valued at $768,000 after purchasing an additional 120 shares during the last quarter. Ellevest Inc. raised its stake in HSBC by 0.7% during the 4th quarter. Ellevest Inc. now owns 18,219 shares of the financial services provider’s stock valued at $1,433,000 after buying an additional 131 shares during the last quarter. Integrated Advisors Network LLC grew its holdings in shares of HSBC by 3.9% in the first quarter. Integrated Advisors Network LLC now owns 3,571 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 134 shares during the period. Greenspring Advisors LLC grew its stake in shares of HSBC by 2.7% during the 2nd quarter. Greenspring Advisors LLC now owns 5,078 shares of the financial services provider’s stock valued at $483,000 after purchasing an additional 134 shares during the period. Finally, Kestra Private Wealth Services LLC increased its holdings in HSBC by 5.0% during the first quarter. Kestra Private Wealth Services LLC now owns 3,005 shares of the financial services provider’s stock valued at $248,000 after buying an additional 144 shares during the last quarter. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

HSBC News Summary

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 organization headquartered in London. Through its subsidiaries and network, the company provides services to personal, commercial and institutional customers, with a particular focus on connecting businesses and investors across international markets.

HSBC’s principal activities include retail and wealth banking, commercial banking, global banking and markets, and private banking. Its products and services include current and savings accounts, mortgages, credit and lending, wealth management, investment services, foreign exchange, trade finance, cash management, and capital-markets services.

The company traces its origins to The Hongkong and Shanghai Banking Corporation, which was established in 1865 to finance trade between Asia and Europe.

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Analyst Recommendations for HSBC (NYSE:HSBC)

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