Analysts Set HSBC Holdings plc (NYSE:HSBC) PT at $63.00

Shares of HSBC Holdings plc (NYSE:HSBC) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $63.00.

Several research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HSBC in a report on Thursday. BNP Paribas Exane upgraded shares of HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. BNP Paribas raised HSBC from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, September 5th. Jefferies Financial Group reissued a “hold” rating on shares of HSBC in a report on Friday, October 10th. Finally, Zacks Research raised HSBC from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd.

Institutional Investors Weigh In On HSBC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. purchased a new stake in HSBC during the 3rd quarter valued at $25,000. NewSquare Capital LLC grew its holdings in shares of HSBC by 152.6% in the second quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 261 shares during the period. Measured Wealth Private Client Group LLC bought a new position in HSBC in the third quarter valued at about $26,000. TD Private Client Wealth LLC boosted its position in HSBC by 101.7% in the second quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 234 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of HSBC during the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Trading Down 1.8%

HSBC stock opened at $71.29 on Friday. HSBC has a 12 month low of $45.59 and a 12 month high of $74.17. The company has a market capitalization of $245.99 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64. The business’s fifty day simple moving average is $69.44 and its two-hundred day simple moving average is $64.28. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.15. The firm had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. As a group, equities analysts predict that HSBC will post 6.66 earnings per share for the current fiscal year.

HSBC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 7th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 7th. This is a boost from HSBC’s previous quarterly dividend of $0.50. HSBC’s payout ratio is 41.68%.

HSBC Company Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.