HSBC (HSBC) Downgraded by Deutsche Bank

HSBC (NYSE:HSBC) was downgraded by research analysts at Deutsche Bank from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, The Fly reports.

A number of other equities analysts have also weighed in on the company. Barclays lowered HSBC from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, January 8th. Zacks Investment Research upgraded HSBC from a “hold” rating to a “strong-buy” rating and set a $47.00 price target for the company in a research report on Tuesday, January 8th. Citigroup lowered HSBC from a “neutral” rating to a “sell” rating in a research report on Friday, January 4th. They noted that the move was a valuation call. ValuEngine upgraded HSBC from a “sell” rating to a “hold” rating in a research report on Tuesday, December 25th. Finally, Edward Jones lowered HSBC from a “hold” rating to a “sell” rating in a research report on Wednesday, December 19th. Six analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $47.00.

Shares of HSBC stock opened at $41.42 on Monday. HSBC has a fifty-two week low of $38.23 and a fifty-two week high of $55.89. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.42.

HSBC (NYSE:HSBC) last announced its earnings results on Monday, October 29th. The financial services provider reported $0.95 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.95. The firm had revenue of $13.84 billion for the quarter. On average, equities research analysts expect that HSBC will post 3.76 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in HSBC by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,630 shares of the financial services provider’s stock worth $5,451,000 after acquiring an additional 5,018 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in HSBC by 49.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,443 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 2,793 shares in the last quarter. Cozad Asset Management Inc. purchased a new stake in HSBC in the 2nd quarter worth about $295,000. HPM Partners LLC lifted its stake in HSBC by 45.3% in the 2nd quarter. HPM Partners LLC now owns 23,217 shares of the financial services provider’s stock worth $1,094,000 after acquiring an additional 7,241 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in HSBC by 4.1% in the 2nd quarter. Northern Trust Corp now owns 4,367,607 shares of the financial services provider’s stock worth $205,888,000 after acquiring an additional 173,934 shares in the last quarter. Institutional investors and hedge funds own 2.53% of the company’s stock.

About 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.

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