HSBC Holdings PLC (NYSE:HSBC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “Shares of HSBC on NYSE have outperformed the industry in the last six months. Continued success of its cost saving efforts should improve the bank’s operating efficiency and support profitability. The company will likely benefit from its extensive global network and solid asset growth. Further, the announcement of $2 billion share repurchase plan reflects its strong capital position and boosts investors’ confidence in the stock. However, dismal European economic growth and weak loan demand are expected to lead to muted revenue growth in the near-term. Also, regulatory probes and litigations related to past business mal-practices continue to adversely impact the company’s financials.”

A number of other equities research analysts also recently weighed in on the company. Jefferies Group LLC assumed coverage on HSBC Holdings PLC in a research report on Monday, September 4th. They set a “buy” rating for the company. BidaskClub downgraded HSBC Holdings PLC from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Berenberg Bank downgraded HSBC Holdings PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Morgan Stanley upgraded HSBC Holdings PLC from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 28th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $36.00.

HSBC Holdings PLC (HSBC) traded up 0.135% on Monday, reaching $49.567. The company had a trading volume of 355,217 shares. The company’s 50 day moving average price is $48.44 and its 200-day moving average price is $45.39. The company has a market capitalization of $200.94 billion, a price-to-earnings ratio of 101.157 and a beta of 0.87. HSBC Holdings PLC has a 12 month low of $36.79 and a 12 month high of $50.86.

HSBC Holdings PLC (NYSE:HSBC) last released its earnings results on Monday, July 31st. The financial services provider reported $0.95 earnings per share for the quarter, topping 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 return on equity of 2.08% and a net margin of 1.42%. On average, equities analysts predict that HSBC Holdings PLC will post $2.95 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Enterprise Financial Services Corp increased its holdings in HSBC Holdings PLC by 0.6% in the second quarter. Enterprise Financial Services Corp now owns 3,442 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 19 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in HSBC Holdings PLC by 0.7% in the second quarter. Parkside Financial Bank & Trust now owns 5,960 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 40 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in HSBC Holdings PLC by 1.8% in the second quarter. UBS Asset Management Americas Inc. now owns 2,477 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 43 shares during the last quarter. SOL Capital Management CO increased its holdings in HSBC Holdings PLC by 0.6% in the second quarter. SOL Capital Management CO now owns 7,393 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 46 shares during the last quarter. Finally, LS Investment Advisors LLC increased its holdings in HSBC Holdings PLC by 2.6% in the second quarter. LS Investment Advisors LLC now owns 2,338 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 2.23% 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.

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