HSBC Holdings plc (NYSE:HSBC - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $71.50, but opened at $68.16. HSBC shares last traded at $68.21, with a volume of 578,223 shares.
Analysts Set New Price Targets
Several research firms recently issued reports on HSBC. Citigroup reissued a "buy" rating on shares of HSBC in a research report on Monday, September 22nd. Weiss Ratings restated a "hold (c)" rating on shares of HSBC in a report on Wednesday. BNP Paribas upgraded shares of HSBC from a "strong sell" rating to a "strong-buy" rating in a report on Friday, September 5th. BNP Paribas Exane upgraded shares of HSBC from an "underperform" rating to an "outperform" rating in a report on Friday, September 5th. Finally, Zacks Research lowered shares of HSBC from a "strong-buy" rating to a "hold" rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, HSBC has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.
Read Our Latest Research Report on HSBC
HSBC Trading Down 5.9%
The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The business's 50 day moving average is $66.72 and its 200-day moving average is $61.09. The firm has a market cap of $233.60 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62.
HSBC (NYSE:HSBC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.33. The business had revenue of $16.90 billion during the quarter, compared to analyst estimates of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.73%. As a group, analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.
HSBC Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 15th were issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, August 15th. HSBC's payout ratio is currently 39.21%.
Hedge Funds Weigh In On HSBC
A number of hedge funds have recently added to or reduced their stakes in the business. Focus Partners Advisor Solutions LLC grew its stake in shares of HSBC by 4.4% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 4,022 shares of the financial services provider's stock valued at $244,000 after buying an additional 168 shares in the last quarter. Moors & Cabot Inc. boosted its position in HSBC by 2.7% during the second quarter. Moors & Cabot Inc. now owns 7,152 shares of the financial services provider's stock worth $435,000 after purchasing an additional 189 shares during the period. Lido Advisors LLC boosted its position in HSBC by 3.1% during the second quarter. Lido Advisors LLC now owns 6,267 shares of the financial services provider's stock worth $381,000 after purchasing an additional 189 shares during the period. Westover Capital Advisors LLC boosted its position in HSBC by 2.5% during the first quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider's stock worth $468,000 after purchasing an additional 200 shares during the period. Finally, Contravisory Investment Management Inc. boosted its position in HSBC by 4.4% during the second quarter. Contravisory Investment Management Inc. now owns 4,972 shares of the financial services provider's stock worth $302,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 1.48% of the company's stock.
About HSBC
(
Get Free Report)
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.
Further Reading
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