Wall Street Zen Upgrades HSBC (NYSE:HSBC) to Buy

Key Points

• Wall Street Zen upgraded HSBC from “hold” to “buy,” though the broader analyst consensus remains “Hold,” with three Buy, eight Hold, and one Sell rating.
• HSBC shares opened at $103.60, near their 52-week high of $107.92, with a market capitalization of approximately $356 billion.
• The bank slightly exceeded quarterly expectations, reporting $2.25 in earnings per share versus a $2.24 estimate and revenue of $19.04 billion versus an $18.66 billion consensus.

HSBC (NYSE:HSBC - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Several other equities research analysts also recently issued reports on HSBC. Erste Group Bank downgraded HSBC from a "buy" rating to a "hold" rating in a report on Wednesday, July 15th. BNP Paribas Exane lowered 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 report on Monday, August 17th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of HSBC in a research note on Tuesday, June 23rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of HSBC in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold".

HSBC Stock Performance

Shares of NYSE HSBC opened at $103.60 on Friday. The stock has a market capitalization of $356.04 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.92 and a current ratio of 0.85. HSBC has a 52 week low of $63.54 and a 52 week high of $107.92. The stock has a 50 day moving average price of $101.00 and a 200 day moving average price of $92.83.

HSBC (NYSE:HSBC - Get Free Report) last released its earnings results on Tuesday, August 4th. The financial services provider reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.01. HSBC had a net margin of 18.19% and a return on equity of 13.80%. The business had revenue of $19.04 billion during the quarter, compared to analysts' expectations of $18.66 billion. Analysts predict that HSBC will post 8.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HSBC

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Transamerica Financial Advisors LLC boosted its holdings in shares of HSBC by 287.1% in the 4th quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of HSBC during the 3rd quarter worth $26,000. Binnacle Investments Inc lifted its position in shares of HSBC by 80.5% during the 3rd quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider's stock worth $32,000 after buying an additional 198 shares during the last quarter. Ballast Advisors LLC acquired a new stake in HSBC in the first quarter valued at about $36,000. Finally, Western Wealth Management LLC bought a new position in HSBC in the first quarter valued at about $37,000. 1.48% of the stock is currently owned by institutional investors.

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.

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