HSBC Holdings plc (NYSE:HSBC) Receives $63.00 Consensus Price Target from Analysts

Shares of HSBC Holdings plc (NYSE:HSBC) have earned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $63.00.

HSBC has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of HSBC in a research note on Monday, December 29th. Zacks Research raised shares of HSBC from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Keefe, Bruyette & Woods raised shares of HSBC from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, December 17th. Jefferies Financial Group reaffirmed a “hold” rating on shares of HSBC in a report on Friday, October 10th. Finally, Erste Group Bank raised shares of HSBC from a “hold” rating to a “buy” rating in a research note on Thursday, November 20th.

Hedge Funds Weigh In On HSBC

Several institutional investors and hedge funds have recently modified their holdings of the company. Mather Group LLC. acquired a new position in HSBC in the 3rd quarter valued at $25,000. NewSquare Capital LLC boosted its holdings in shares of HSBC by 152.6% during the second quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 261 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in HSBC in the third quarter valued at $26,000. TD Private Client Wealth LLC lifted its position in HSBC by 101.7% during the second quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after buying an additional 234 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new position in HSBC during the third quarter worth about $32,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Price Performance

HSBC stock opened at $89.60 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day simple moving average of $78.73 and a 200-day simple moving average of $71.32. HSBC has a 12 month low of $45.66 and a 12 month high of $89.63. The stock has a market capitalization of $307.77 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52.

About HSBC

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.