HSBC (NYSE:HSBC) Raised to Hold at StockNews.com

HSBC (NYSE:HSBC) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other equities analysts also recently commented on HSBC. Royal Bank of Canada restated a “sector perform” rating on shares of HSBC in a research note on Monday, February 3rd. Barclays raised HSBC from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. UBS Group reaffirmed a “neutral” rating on shares of HSBC in a research report on Thursday, March 6th. Finally, Deutsche Bank Aktiengesellschaft downgraded HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, HSBC currently has a consensus rating of “Moderate Buy”.

HSBC Price Performance

HSBC opened at $55.74 on Tuesday. The stock’s 50-day moving average price is $53.67 and its 200 day moving average price is $48.57. HSBC has a 12-month low of $37.38 and a 12-month high of $61.88. The firm has a market cap of $198.84 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.05 and a beta of 0.51. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.04. The business had revenue of $11.56 billion for the quarter, compared to analysts’ expectations of $13.79 billion. HSBC had a net margin of 16.17% and a return on equity of 12.20%. As a group, sell-side analysts expect that HSBC will post 6.66 earnings per share for the current year.

Hedge Funds Weigh In On HSBC

A number of hedge funds have recently modified their holdings of the business. Berbice Capital Management LLC acquired a new stake in HSBC during the 4th quarter worth $25,000. Venturi Wealth Management LLC boosted its stake in shares of HSBC by 58.2% during the fourth quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after buying an additional 210 shares during the period. CoreCap Advisors LLC grew its holdings in shares of HSBC by 342.9% during the fourth quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider’s stock worth $29,000 after buying an additional 456 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in HSBC in the 4th quarter valued at about $30,000. Finally, Larson Financial Group LLC raised its stake in HSBC by 138.5% during the 3rd quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 450 shares during the last quarter. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

HSBC Company Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.