HSBC (NYSE:HSBC) Downgraded by Erste Group Bank to "Hold"

Key Points

• Erste Group Bank downgraded HSBC from “buy” to “hold”, adding to a mixed analyst backdrop. MarketBeat says HSBC’s overall consensus rating is now Hold.
• HSBC shares were up 0.9% on Wednesday to $100.14, near their 52-week high of $100.80. The stock has risen above both its 50-day and 200-day moving averages.
• The bank’s latest reported quarter showed EPS of $0.44 on $19.12 billion in revenue, with 13.35% return on equity and 16.06% net margin. Analysts currently expect 8.69 EPS for the full fiscal year.

HSBC (NYSE:HSBC - Get Free Report) was downgraded by Erste Group Bank from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports.

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada reiterated a "sector perform" rating on shares of HSBC in a research note on Thursday, May 14th. Zacks Research cut shares of HSBC from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. Weiss Ratings downgraded HSBC from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. The Goldman Sachs Group assumed coverage on HSBC in a research report on Thursday, March 26th. They set a "buy" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of HSBC in a research note on Tuesday, June 23rd. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, HSBC has an average rating of "Hold".

HSBC Stock Up 0.9%

Shares of HSBC stock traded up $0.89 during trading on Wednesday, reaching $100.14. The stock had a trading volume of 381,475 shares, compared to its average volume of 1,954,536. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $344.15 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 0.87 and a beta of 0.57. The stock has a fifty day moving average price of $93.45 and a two-hundred day moving average price of $88.26. HSBC has a 52 week low of $60.61 and a 52 week high of $100.80.

HSBC (NYSE:HSBC - Get Free Report) last announced its 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 for the quarter. HSBC had a return on equity of 13.35% and a net margin of 16.06%. Sell-side analysts predict that HSBC will post 8.69 EPS for the current fiscal year.

Insider Activity

In other news, insider Daniel Scott Palomaki sold 23,123 shares of HSBC stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.11, for a total transaction of $418,757.53. Following the transaction, the insider owned 4,973 shares in the company, valued at approximately $90,061.03. The trade was a 82.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.01% of the company's stock.

Institutional Investors Weigh In On HSBC

A number of institutional investors have recently modified their holdings of the company. Cornerstone Planning Group LLC raised its holdings in shares of HSBC by 30.7% in the 4th quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider's stock worth $43,000 after purchasing an additional 117 shares during the period. Westover Capital Advisors LLC increased its stake in HSBC by 1.3% during the first quarter. Westover Capital Advisors LLC now owns 9,313 shares of the financial services provider's stock valued at $768,000 after purchasing an additional 120 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its holdings in shares of HSBC by 1.0% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 12,445 shares of the financial services provider's stock worth $979,000 after acquiring an additional 123 shares during the period. Ellevest Inc. increased its stake in shares of HSBC by 0.7% in the fourth quarter. Ellevest Inc. now owns 18,219 shares of the financial services provider's stock valued at $1,433,000 after purchasing an additional 131 shares during the period. Finally, Federation des caisses Desjardins du Quebec increased its position in HSBC by 5.3% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 2,658 shares of the financial services provider's stock valued at $209,000 after acquiring an additional 133 shares during the period. 1.48% of the stock is owned by institutional investors.

About HSBC

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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