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

HSBC Holdings plc (NYSE:HSBC) has been assigned a consensus rating of “Hold” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company.

Several brokerages have weighed in on HSBC. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of HSBC in a report on Tuesday, June 23rd. The Goldman Sachs Group assumed coverage on HSBC in a report on Thursday, March 26th. They set a “buy” rating on the stock. BNP Paribas Exane downgraded HSBC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 14th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of HSBC in a research report on Thursday, May 14th. Finally, Weiss Ratings downgraded shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th.

Insider Transactions at HSBC

In related news, insider Daniel Scott Palomaki sold 23,123 shares of HSBC stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.11, for a total value of $418,757.53. Following the transaction, the insider directly owned 4,973 shares of the company’s stock, valued at $90,061.03. This trade represents a 82.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On HSBC

A number of large investors have recently modified their holdings of the business. Transamerica Financial Advisors LLC raised its holdings in shares of HSBC by 287.1% during the 4th quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock worth $26,000 after buying an additional 244 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in HSBC in the third quarter valued at about $26,000. Ballast Advisors LLC acquired a new stake in HSBC in the first quarter valued at about $36,000. Binnacle Investments Inc grew its position in HSBC by 80.5% in the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 198 shares during the last quarter. Finally, Western Wealth Management LLC acquired a new position in HSBC during the first quarter worth about $37,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Down 0.1%

Shares of HSBC opened at $96.69 on Friday. HSBC has a 12 month low of $60.51 and a 12 month high of $97.88. The firm’s 50 day moving average is $92.27 and its 200-day moving average is $87.16. The stock has a market capitalization of $332.29 billion, a PE ratio of 15.85, a P/E/G ratio of 0.85 and a beta of 0.57. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. The business had revenue of $19.12 billion during the quarter. HSBC had a return on equity of 13.35% and a net margin of 16.06%. Equities research analysts forecast that HSBC will post 8.67 EPS for the current year.

HSBC Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 15th were given a dividend of $0.50 per share. The ex-dividend date was Friday, May 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. HSBC’s dividend payout ratio (DPR) is currently 32.46%.

HSBC Company Profile

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.