HSBC (HSBC) Sets New 52-Week Low at $41.93

HSBC Holdings plc (NYSE:HSBC)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $41.93 and last traded at $42.03, with a volume of 147371 shares changing hands. The stock had previously closed at $43.17.

A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of HSBC from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. Keefe, Bruyette & Woods raised shares of HSBC from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 11th. ValuEngine cut shares of HSBC from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. DZ Bank reaffirmed a “sell” rating on shares of HSBC in a research note on Monday, August 6th. Finally, Credit Suisse Group raised shares of HSBC from an “underperform” rating to a “neutral” rating in a research note on Thursday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. HSBC has an average rating of “Hold”.

The company has a current ratio of 0.90, a quick ratio of 0.96 and a debt-to-equity ratio of 0.55.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Monday, August 6th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.05. The business had revenue of $13.58 billion during the quarter. As a group, research analysts forecast that HSBC Holdings plc will post 3.65 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in HSBC. Fisher Asset Management LLC raised its holdings in HSBC by 3.7% in the second quarter. Fisher Asset Management LLC now owns 15,263,372 shares of the financial services provider’s stock worth $719,515,000 after purchasing an additional 547,544 shares during the period. Ferguson Wellman Capital Management Inc. acquired a new stake in HSBC in the second quarter worth $8,939,000. Northern Trust Corp raised its holdings in HSBC by 4.1% in the second quarter. Northern Trust Corp now owns 4,367,607 shares of the financial services provider’s stock worth $205,888,000 after purchasing an additional 173,934 shares during the period. SG Americas Securities LLC raised its holdings in HSBC by 626.6% in the second quarter. SG Americas Securities LLC now owns 112,605 shares of the financial services provider’s stock worth $5,308,000 after purchasing an additional 97,107 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in HSBC by 49.9% in the second quarter. Envestnet Asset Management Inc. now owns 267,373 shares of the financial services provider’s stock worth $12,603,000 after purchasing an additional 89,037 shares during the period. 2.56% of the stock is currently owned by hedge funds and other institutional investors.

About HSBC (NYSE:HSBC)

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

Recommended Story: Price to Earnings Ratio (PE)

Receive News & Ratings for HSBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HSBC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply