HSBC Holdings plc (NYSE:HSBC) Receives Average Recommendation of “Hold” from Brokerages

HSBC Holdings plc (NYSE:HSBC) has been assigned an average recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $63.00.

Several research firms recently weighed in on HSBC. Bank of America reaffirmed a “neutral” rating and issued a $63.00 price objective on shares of HSBC in a research note on Tuesday, June 3rd. BNP Paribas Exane raised HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday.

Institutional Trading of HSBC

A number of hedge funds have recently made changes to their positions in the company. Focus Partners Advisor Solutions LLC boosted its stake in shares of HSBC by 4.4% during the second quarter. Focus Partners Advisor Solutions LLC now owns 4,022 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 168 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of HSBC by 2.7% during the second quarter. Moors & Cabot Inc. now owns 7,152 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 189 shares in the last quarter. Lido Advisors LLC boosted its stake in shares of HSBC by 3.1% during the second quarter. Lido Advisors LLC now owns 6,267 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 189 shares in the last quarter. Westover Capital Advisors LLC boosted its stake in shares of HSBC by 2.5% during the first quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 200 shares in the last quarter. Finally, Contravisory Investment Management Inc. boosted its stake in shares of HSBC by 4.4% during the second quarter. Contravisory Investment Management Inc. now owns 4,972 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 210 shares in the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Stock Performance

HSBC opened at $65.58 on Monday. The firm has a market cap of $227.60 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.65. HSBC has a 52-week low of $42.38 and a 52-week high of $66.37. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86. The business’s fifty day moving average is $63.42 and its 200-day moving average is $59.23.

HSBC (NYSE:HSBC) last released its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.33. The company had revenue of $16.90 billion for the quarter, compared to analyst estimates of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. Sell-side analysts expect that HSBC will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 15th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.98 annualized dividend and a yield of 3.0%. HSBC’s dividend payout ratio (DPR) is 39.21%.

About HSBC

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.