HSBC Holdings plc (NYSE:HSBC) Receives $63.00 Average Target Price from Analysts

Key Points

• HSBC Holdings plc has received an average analyst recommendation of "Hold", with a target price of $63.00 from brokerages covering the stock.
• The company's recent quarterly earnings exceeded expectations, reporting $1.95 EPS against a consensus estimate of $1.62.
• HSBC declared a quarterly dividend of $0.495, with a dividend yield of 3.1%, and the dividend will be paid on September 26th.

Shares of HSBC Holdings plc (NYSE:HSBC - Get Free Report) have been assigned an average recommendation of "Hold" from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $63.00.

Separately, Bank of America reaffirmed a "neutral" rating and set a $63.00 price target on shares of HSBC in a research report on Tuesday, June 3rd.

HSBC Price Performance

Shares of NYSE HSBC traded up $0.37 during midday trading on Monday, reaching $65.10. 517,059 shares of the company traded hands, compared to its average volume of 2,022,687. The firm has a market cap of $227.27 billion, a PE ratio of 12.89, a PEG ratio of 1.44 and a beta of 0.65. The stock's 50-day simple moving average is $63.23 and its 200-day simple moving average is $59.07. HSBC has a 12 month low of $42.38 and a 12 month high of $66.05. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86.

HSBC (NYSE:HSBC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.33. The firm had revenue of $16.90 billion during the quarter, compared to analyst estimates of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. As a group, equities analysts anticipate that HSBC will post 6.66 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 15th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.98 annualized dividend and a yield of 3.0%. HSBC's dividend payout ratio (DPR) is 39.21%.

Hedge Funds Weigh In On HSBC

Large investors have recently bought and sold shares of the company. NewSquare Capital LLC raised its position in HSBC by 152.6% in the second 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 last quarter. TD Private Client Wealth LLC increased its holdings in HSBC by 101.7% in the second quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider's stock worth $28,000 after purchasing an additional 234 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of HSBC during the second quarter valued at approximately $31,000. Wayfinding Financial LLC bought a new stake in shares of HSBC during the first quarter valued at approximately $30,000. Finally, Raleigh Capital Management Inc. purchased a new position in shares of HSBC during the second quarter valued at approximately $33,000. 1.48% of the stock is currently owned by institutional investors.

About HSBC

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.