HSBC (NYSE:HSBC) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of HSBC (NYSE:HSBC – Get Rating) from a hold rating to a buy rating in a research report report published on Wednesday.

Other analysts also recently issued reports about the company. Investec upgraded HSBC from a hold rating to a buy rating in a report on Wednesday, June 15th. BNP Paribas downgraded HSBC from an outperform rating to a neutral rating in a report on Tuesday. Morgan Stanley increased their price target on HSBC from GBX 590 ($7.23) to GBX 624 ($7.65) in a report on Wednesday, July 6th. Redburn Partners upgraded HSBC from a neutral rating to a buy rating in a report on Friday, June 24th. Finally, Barclays increased their price target on HSBC from GBX 720 ($8.82) to GBX 780 ($9.56) in a report on Tuesday. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $609.86.

HSBC Stock Up 0.3 %

Shares of NYSE:HSBC opened at $32.81 on Wednesday. The firm has a market cap of $133.96 billion, a P/E ratio of 9.79, a P/E/G ratio of 0.49 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 0.55. HSBC has a 12-month low of $24.31 and a 12-month high of $38.61. The business has a fifty day simple moving average of $32.08 and a 200 day simple moving average of $33.17.

HSBC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, August 19th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.80 annualized dividend and a dividend yield of 5.49%. HSBC’s dividend payout ratio is presently 37.02%.

Institutional Trading of HSBC

Several large investors have recently made changes to their positions in HSBC. EverSource Wealth Advisors LLC boosted its stake in HSBC by 229.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 826 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 575 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in HSBC by 276.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 855 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 628 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in HSBC by 352.4% during the 1st quarter. JFS Wealth Advisors LLC now owns 1,054 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 821 shares during the last quarter. Spire Wealth Management boosted its stake in HSBC by 74.6% during the 2nd quarter. Spire Wealth Management now owns 1,170 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 500 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in HSBC by 37.5% during the 4th quarter. Fifth Third Bancorp now owns 1,433 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 391 shares during the last quarter. 1.14% of the stock is currently owned by institutional investors and hedge funds.

About HSBC

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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.