HSBC (NYSE:HSBC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of HSBC (NYSE:HSBC) from a hold rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued research reports about the company. Citigroup cut HSBC from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Zacks Research lowered shares of HSBC from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. BNP Paribas Exane downgraded shares of HSBC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Royal Bank Of Canada reissued a “sector perform” rating on shares of HSBC in a research note on Monday, August 17th. Finally, Erste Group Bank lowered shares of HSBC from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

HSBC Trading Down 0.5%

Shares of HSBC opened at $103.01 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.92 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $354.02 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 0.99 and a beta of 0.57. The stock’s fifty day simple moving average is $101.14 and its 200 day simple moving average is $92.94. HSBC has a twelve month low of $63.54 and a twelve month high of $107.92.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.01. The firm had revenue of $19.04 billion during the quarter, compared to the consensus estimate of $18.66 billion. HSBC had a return on equity of 13.80% and a net margin of 18.19%. On average, equities research analysts forecast that HSBC will post 8.56 earnings per share for the current year.

HSBC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, August 14th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 14th. HSBC’s payout ratio is presently 28.09%.

Institutional Investors Weigh In On HSBC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HSBC. Cornerstone Planning Group LLC boosted its position in HSBC by 30.7% in the 4th quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider’s stock valued at $43,000 after buying an additional 117 shares during the last quarter. Westover Capital Advisors LLC increased its position in shares of HSBC by 1.3% during the first quarter. Westover Capital Advisors LLC now owns 9,313 shares of the financial services provider’s stock worth $768,000 after acquiring an additional 120 shares during the last quarter. Ellevest Inc. boosted its holdings in HSBC by 0.7% in the fourth quarter. Ellevest Inc. now owns 18,219 shares of the financial services provider’s stock valued at $1,433,000 after purchasing an additional 131 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in HSBC by 5.3% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,658 shares of the financial services provider’s stock valued at $209,000 after purchasing an additional 133 shares during the last quarter. Finally, Integrated Advisors Network LLC grew its stake in HSBC by 3.9% during the 1st quarter. Integrated Advisors Network LLC now owns 3,571 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

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.