Brokerages Set HSBC Holdings plc (NYSE:HSBC) Price Target at $63.00

HSBC Holdings plc (NYSE:HSBCGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $63.00.

A number of analysts recently weighed in on HSBC shares. Zacks Research upgraded HSBC from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Citigroup reiterated a “buy” rating on shares of HSBC in a research report on Tuesday, October 21st. Weiss Ratings restated a “hold (c+)” rating on shares of HSBC in a research report on Monday, December 29th. Bank of America upgraded HSBC from a “neutral” rating to a “buy” rating in a report on Wednesday, December 10th. Finally, Jefferies Financial Group restated a “hold” rating on shares of HSBC in a report on Friday, October 10th.

View Our Latest Stock Report on HSBC

More HSBC News

Here are the key news stories impacting HSBC this week:

Institutional Trading of HSBC

A number of large investors have recently bought and sold shares of HSBC. Cubist Systematic Strategies LLC acquired a new position in shares of HSBC in the 1st quarter valued at about $1,564,000. Focus Partners Advisor Solutions LLC acquired a new stake in HSBC during the first quarter worth approximately $221,000. AQR Capital Management LLC increased its holdings in HSBC by 43.7% in the first quarter. AQR Capital Management LLC now owns 99,949 shares of the financial services provider’s stock worth $5,740,000 after purchasing an additional 30,377 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in HSBC by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock valued at $271,438,000 after buying an additional 53,072 shares during the period. Finally, Everstar Asset Management LLC boosted its holdings in shares of HSBC by 50.2% during the 1st quarter. Everstar Asset Management LLC now owns 10,332 shares of the financial services provider’s stock worth $593,000 after buying an additional 3,451 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Stock Performance

HSBC stock opened at $80.51 on Friday. The business has a 50 day moving average of $74.15 and a 200-day moving average of $68.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. HSBC has a 1 year low of $45.66 and a 1 year high of $83.03. The company has a market capitalization of $276.55 billion, a P/E ratio of 16.95, a P/E/G ratio of 0.97 and a beta of 0.52.

HSBC (NYSE:HSBCGet Free Report) last posted its earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. The firm had revenue of $17.79 billion for the quarter, compared to analyst estimates of $16.78 billion. HSBC had a net margin of 12.85% and a return on equity of 12.78%. On average, equities research analysts predict that HSBC will post 6.66 earnings per share for the current year.

HSBC Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Friday, November 7th were paid a dividend of $0.50 per share. This is a boost from HSBC’s previous quarterly dividend of $0.50. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, November 7th. HSBC’s payout ratio is 41.68%.

HSBC Company Profile

(Get Free Report)

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.

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Analyst Recommendations for HSBC (NYSE:HSBC)

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