HSBC (NYSE:HSBC) Raised to “Hold” at StockNews.com

HSBC (NYSE:HSBC) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

A number of other equities research analysts have also issued reports on HSBC. Barclays raised shares of HSBC from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. UBS Group reaffirmed a “neutral” rating on shares of HSBC in a research note on Thursday, March 6th. Royal Bank of Canada reissued a “sector perform” rating on shares of HSBC in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

HSBC Stock Up 0.5 %

HSBC opened at $55.74 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. HSBC has a twelve month low of $37.38 and a twelve month high of $61.88. The company has a market cap of $198.84 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 1.05 and a beta of 0.51. The company has a 50-day moving average price of $53.67 and a 200 day moving average price of $48.57.

HSBC (NYSE:HSBC) last released its earnings results on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.04. The business had revenue of $11.56 billion for the quarter, compared to the consensus estimate of $13.79 billion. HSBC had a return on equity of 12.20% and a net margin of 16.17%. Sell-side analysts expect that HSBC will post 6.66 earnings per share for the current fiscal year.

Institutional Trading of HSBC

Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in HSBC by 124.3% in the third quarter. Bank of Montreal Can now owns 171,416 shares of the financial services provider’s stock valued at $7,820,000 after acquiring an additional 94,991 shares during the last quarter. Wealthstar Advisors LLC purchased a new stake in HSBC in the fourth quarter valued at $664,000. Entropy Technologies LP purchased a new position in shares of HSBC during the 4th quarter worth $701,000. Ritholtz Wealth Management raised its holdings in HSBC by 12.3% in the 4th quarter. Ritholtz Wealth Management now owns 141,108 shares of the financial services provider’s stock valued at $6,979,000 after buying an additional 15,510 shares during the period. Finally, Perigon Wealth Management LLC acquired a new position in HSBC in the fourth quarter valued at about $244,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Company Profile

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.