HSBC Holdings PLC (NYSE:HSBC) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Saturday.

HSBC has been the subject of a number of other research reports. Zacks Investment Research raised shares of HSBC Holdings PLC from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Wednesday, August 2nd. Berenberg Bank lowered shares of HSBC Holdings PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Morgan Stanley raised shares of HSBC Holdings PLC from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, June 28th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $36.67.

HSBC Holdings PLC (NYSE:HSBC) traded down 0.87% during mid-day trading on Friday, hitting $47.77. The stock had a trading volume of 1,403,634 shares. HSBC Holdings PLC has a one year low of $35.24 and a one year high of $50.86. The firm’s 50-day moving average is $47.98 and its 200 day moving average is $43.59. The stock has a market cap of $193.65 billion, a PE ratio of 97.49 and a beta of 0.89.

HSBC Holdings PLC (NYSE:HSBC) last issued its earnings results on Monday, July 31st. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The company had revenue of $13.17 billion during the quarter. HSBC Holdings PLC had a net margin of 1.42% and a return on equity of 2.08%. Equities research analysts expect that HSBC Holdings PLC will post $2.95 EPS for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. increased its position in HSBC Holdings PLC by 39.3% in the first quarter. Raymond James Trust N.A. now owns 8,976 shares of the financial services provider’s stock worth $367,000 after buying an additional 2,531 shares in the last quarter. Atria Investments LLC increased its position in HSBC Holdings PLC by 7.3% in the first quarter. Atria Investments LLC now owns 17,059 shares of the financial services provider’s stock worth $696,000 after buying an additional 1,157 shares in the last quarter. Telemus Capital LLC increased its position in HSBC Holdings PLC by 24.9% in the first quarter. Telemus Capital LLC now owns 12,610 shares of the financial services provider’s stock worth $515,000 after buying an additional 2,511 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in HSBC Holdings PLC during the first quarter worth $394,000. Finally, CAPROCK Group Inc. increased its position in HSBC Holdings PLC by 7.8% in the first quarter. CAPROCK Group Inc. now owns 7,455 shares of the financial services provider’s stock worth $304,000 after buying an additional 541 shares in the last quarter. Institutional investors and hedge funds own 2.33% of the company’s stock.

About HSBC Holdings PLC

HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.

Analyst Recommendations for HSBC Holdings PLC (NYSE:HSBC)

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