HSBC Holdings plc (NYSE:HSBC) Receives Consensus Rating of “Hold” from Brokerages

HSBC Holdings plc (NYSE:HSBC) has earned an average recommendation of “Hold” from the twelve analysts that are covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company.

Several equities research analysts have recently issued reports on HSBC shares. BNP Paribas Exane cut HSBC from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of HSBC in a report on Tuesday. Weiss Ratings cut HSBC from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of HSBC in a report on Thursday, May 14th. Finally, The Goldman Sachs Group started coverage on HSBC in a report on Thursday, March 26th. They issued a “buy” rating on the stock.

HSBC Price Performance

NYSE:HSBC opened at $93.86 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.52. The business’s 50-day simple moving average is $91.79 and its two-hundred day simple moving average is $86.37. The stock has a market cap of $322.58 billion, a PE ratio of 15.39, a P/E/G ratio of 0.83 and a beta of 0.56. HSBC has a 52 week low of $59.92 and a 52 week high of $96.90.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.44 EPS for the quarter. HSBC had a return on equity of 13.35% and a net margin of 16.06%.The business had revenue of $19.13 billion for the quarter. As a group, analysts forecast that HSBC will post 8.6 EPS for the current fiscal year.

HSBC Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, May 15th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, May 15th. HSBC’s payout ratio is 32.46%.

Insider Activity

In other news, insider Daniel Scott Palomaki sold 23,123 shares of HSBC stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.11, for a total value of $418,757.53. Following the sale, the insider directly owned 4,973 shares of the company’s stock, valued at approximately $90,061.03. The trade was a 82.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On HSBC

Large investors have recently added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC increased its stake in HSBC by 287.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 244 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in HSBC during the third quarter worth approximately $26,000. Binnacle Investments Inc increased its stake in HSBC by 80.5% during the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 198 shares during the last quarter. Ballast Advisors LLC bought a new stake in HSBC in the first quarter worth $36,000. Finally, Western Wealth Management LLC bought a new stake in HSBC in the first quarter worth $37,000. 1.48% of the stock is owned by institutional investors.

HSBC News Roundup

Here are the key news stories impacting HSBC this week:

• Positive Sentiment: HSBC said its research and investment views still favor parts of Asia, highlighting China, Japan and South Korea as top picks, while also pointing to potential upside in SK Hynix’s planned U.S. listing. That reinforces HSBC’s role as a major market strategist and deal adviser. Article Title

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.