Shares of HSBC Holdings plc (NYSE:HSBC) have earned an average rating of “Hold” from the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $40.59.
HSBC has been the topic of several analyst reports. Barclays cut HSBC from an “equal weight” rating to an “underweight” rating in a report on Wednesday, July 17th. Goldman Sachs Group upgraded HSBC from a “neutral” rating to a “buy” rating in a report on Wednesday, May 22nd. Morgan Stanley cut HSBC from an “overweight” rating to an “equal weight” rating in a report on Friday, June 21st. Jefferies Financial Group cut HSBC from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, ValuEngine cut HSBC from a “hold” rating to a “sell” rating in a report on Friday, July 26th.
A number of institutional investors have recently modified their holdings of HSBC. Renaissance Technologies LLC boosted its stake in HSBC by 63.0% in the second quarter. Renaissance Technologies LLC now owns 4,866,027 shares of the financial services provider’s stock valued at $203,108,000 after acquiring an additional 1,880,300 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of HSBC by 348.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,934,295 shares of the financial services provider’s stock valued at $80,099,000 after purchasing an additional 1,502,641 shares during the last quarter. Carlson Capital L P purchased a new stake in shares of HSBC during the 2nd quarter valued at about $62,076,000. Capital Advisors Inc. OK increased its position in shares of HSBC by 318.5% during the 2nd quarter. Capital Advisors Inc. OK now owns 284,462 shares of the financial services provider’s stock valued at $11,873,000 after purchasing an additional 216,491 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of HSBC by 290.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 275,983 shares of the financial services provider’s stock valued at $11,520,000 after purchasing an additional 205,279 shares during the last quarter. Hedge funds and other institutional investors own 2.40% of the company’s stock.
NYSE:HSBC traded up $0.46 during trading hours on Friday, reaching $39.21. 1,341,111 shares of the company traded hands, compared to its average volume of 3,570,677. HSBC has a 1-year low of $35.35 and a 1-year high of $45.33. The firm’s 50-day moving average is $37.55 and its 200-day moving average is $40.72. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.89 and a quick ratio of 0.97. The stock has a market cap of $158.60 billion, a P/E ratio of 12.45, a P/E/G ratio of 4.66 and a beta of 0.71.
HSBC Company Profile
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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