HSBC Holdings plc (NYSE:HSBC) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• HSBC Holdings plc has received a consensus rating of "Moderate Buy" from eight research firms, with an average 12-month price target of $63.00.
• Institutional investors have shown increased interest in HSBC, with NewSquare Capital boosting its holdings by 152.6% in the second quarter.
• HSBC recently announced a quarterly dividend of $0.495, translating to an annualized dividend yield of 2.9%.

HSBC Holdings plc (NYSE:HSBC - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight research firms that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $63.00.

HSBC has been the subject of several research reports. Citigroup reaffirmed a "buy" rating on shares of HSBC in a research note on Monday. BNP Paribas Exane raised HSBC from an "underperform" rating to an "outperform" rating in a research note on Friday, September 5th. Bank of America reiterated a "neutral" rating and issued a $63.00 price target on shares of HSBC in a research report on Tuesday, June 3rd. Finally, BNP Paribas upgraded HSBC from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, September 5th.

Hedge Funds Weigh In On HSBC

Hedge funds and other institutional investors have recently modified their holdings of the stock. NewSquare Capital LLC boosted its position in shares of HSBC by 152.6% in the 2nd quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 261 shares during the period. TD Private Client Wealth LLC lifted its stake in HSBC by 101.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider's stock worth $28,000 after acquiring an additional 234 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in HSBC during the 2nd quarter worth about $31,000. Wayfinding Financial LLC purchased a new position in HSBC during the 1st quarter valued at about $30,000. Finally, Raleigh Capital Management Inc. purchased a new position in HSBC during the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 1.48% of the company's stock.

HSBC Trading Down 1.3%

Shares of HSBC stock opened at $68.96 on Friday. The stock has a 50-day simple moving average of $65.47 and a 200 day simple moving average of $60.24. HSBC has a fifty-two week low of $43.81 and a fifty-two week high of $71.04. The stock has a market capitalization of $239.31 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.56 and a beta of 0.65. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

HSBC (NYSE:HSBC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.33. HSBC had a return on equity of 12.73% and a net margin of 13.48%.The business had revenue of $16.90 billion during the quarter, compared to analysts' expectations of $16.64 billion. On average, sell-side analysts expect that HSBC will post 6.66 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 15th will be given a $0.495 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.9%. HSBC's dividend payout ratio (DPR) is 39.21%.

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.

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