HSBC (NYSE:HSBC) Earns Neutral Rating from Bank of America

Bank of America restated their neutral rating on shares of HSBC (NYSE:HSBC - Free Report) in a research note published on Tuesday morning, MarketBeat reports. The brokerage currently has a $63.00 target price on the financial services provider's stock.

A number of other brokerages have 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. Wall Street Zen upgraded shares of HSBC from a "sell" rating to a "hold" rating in a research report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft lowered shares of HSBC from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Barclays upgraded HSBC from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, March 4th. Finally, UBS Group reaffirmed a "neutral" rating on shares of HSBC in a report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $63.00.

HSBC Stock Up 0.5%

Shares of NYSE HSBC traded up $0.28 during trading on Tuesday, hitting $59.59. The stock had a trading volume of 1,180,361 shares, compared to its average volume of 1,727,571. HSBC has a 12 month low of $39.42 and a 12 month high of $61.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96. The firm has a fifty day moving average of $55.55 and a two-hundred day moving average of $53.34. The company has a market capitalization of $210.62 billion, a PE ratio of 9.61, a PEG ratio of 1.05 and a beta of 0.53.

HSBC (NYSE:HSBC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.35. The firm had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $16.60 billion. HSBC had a return on equity of 12.20% and a net margin of 16.17%. As a group, equities research analysts forecast that HSBC will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 12th will be given a $0.495 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a yield of 3.5%. HSBC's dividend payout ratio (DPR) is presently 36.33%.

Institutional Investors Weigh In On HSBC

Large investors have recently added to or reduced their stakes in the company. Wealthstar Advisors LLC bought a new position in shares of HSBC during the 4th quarter valued at about $664,000. Entropy Technologies LP bought a new position in HSBC during the fourth quarter valued at approximately $701,000. Orion Portfolio Solutions LLC lifted its holdings in shares of HSBC by 23.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 41,933 shares of the financial services provider's stock worth $2,074,000 after acquiring an additional 7,908 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of HSBC by 739.7% in the 4th quarter. National Bank of Canada FI now owns 15,577 shares of the financial services provider's stock valued at $770,000 after purchasing an additional 13,722 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in HSBC in the 4th quarter worth $3,998,000. Hedge funds and other institutional investors own 1.48% of the company's stock.

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.