Deutsche Bank Downgrades HSBC (HSBC) to Sell

HSBC (NYSE:HSBC) was downgraded by analysts at Deutsche Bank from a “hold” rating to a “sell” rating in a report issued on Monday, The Fly reports.

Several other brokerages have also recently commented on HSBC. Credit Suisse Group upgraded shares of HSBC from an “underperform” rating to a “neutral” rating in a research note on Thursday, September 20th. Zacks Investment Research cut shares of HSBC from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Citigroup cut shares of HSBC from a “neutral” rating to a “sell” rating in a research report on Friday, January 4th. They noted that the move was a valuation call. Barclays cut shares of HSBC from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, January 8th. Finally, ValuEngine upgraded shares of HSBC from a “sell” rating to a “hold” rating in a research report on Tuesday, December 25th. Six analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $47.00.

Shares of HSBC stock opened at $41.42 on Monday. HSBC has a 1 year low of $38.23 and a 1 year high of $55.89. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.96 and a quick ratio of 0.96.

HSBC (NYSE:HSBC) last issued its earnings results on Monday, October 29th. The financial services provider reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. The firm had revenue of $13.84 billion during the quarter. As a group, analysts forecast that HSBC will post 3.76 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Fisher Asset Management LLC lifted its position in HSBC by 3.0% during the third quarter. Fisher Asset Management LLC now owns 15,726,602 shares of the financial services provider’s stock valued at $691,813,000 after acquiring an additional 463,230 shares during the last quarter. Cambiar Investors LLC lifted its position in HSBC by 0.6% during the third quarter. Cambiar Investors LLC now owns 4,585,514 shares of the financial services provider’s stock valued at $201,717,000 after acquiring an additional 25,713 shares during the last quarter. Northern Trust Corp lifted its position in HSBC by 4.1% during the second quarter. Northern Trust Corp now owns 4,367,607 shares of the financial services provider’s stock valued at $205,888,000 after acquiring an additional 173,934 shares during the last quarter. First Republic Investment Management Inc. raised its holdings in shares of HSBC by 172.7% during the third quarter. First Republic Investment Management Inc. now owns 389,464 shares of the financial services provider’s stock worth $8,703,000 after purchasing an additional 246,640 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of HSBC by 20.5% during the third quarter. Renaissance Technologies LLC now owns 383,500 shares of the financial services provider’s stock worth $16,870,000 after purchasing an additional 65,200 shares during the last quarter. 2.53% of the stock is currently owned by institutional investors.

About HSBC

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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