HSBC Holdings plc (NYSE:HSBC – Get Rating) shares gapped up prior to trading on Tuesday . The stock had previously closed at $30.97, but opened at $33.39. HSBC shares last traded at $33.18, with a volume of 76,967 shares traded.
Several brokerages have recently commented on HSBC. Barclays boosted their target price on HSBC from GBX 725 ($8.88) to GBX 735 ($9.00) in a report on Wednesday, April 20th. StockNews.com initiated coverage on shares of HSBC in a research report on Thursday, March 31st. They set a “hold” rating for the company. Investec raised shares of HSBC from a “hold” rating to a “buy” rating in a report on Wednesday, June 15th. Credit Suisse Group boosted their price target on shares of HSBC from GBX 515 ($6.31) to GBX 525 ($6.43) in a report on Thursday, May 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of HSBC from GBX 540 ($6.61) to GBX 550 ($6.74) in a research note on Thursday, May 19th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $591.67.
The company’s 50 day moving average price is $32.11 and its 200-day moving average price is $32.95. The stock has a market cap of $135.10 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.55 and a beta of 0.58. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.42.
Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in HSBC by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,833,179 shares of the financial services provider’s stock valued at $336,492,000 after acquiring an additional 330,792 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in HSBC by 62.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,738,851 shares of the financial services provider’s stock worth $127,944,000 after buying an additional 1,443,765 shares in the last quarter. JPMorgan Chase & Co. grew its stake in HSBC by 3.8% in the 4th quarter. JPMorgan Chase & Co. now owns 3,374,145 shares of the financial services provider’s stock worth $101,730,000 after buying an additional 124,185 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in HSBC by 26.5% in the 4th quarter. Parametric Portfolio Associates LLC now owns 3,201,774 shares of the financial services provider’s stock worth $96,533,000 after buying an additional 670,107 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of HSBC in the 4th quarter valued at $71,576,000. Institutional investors and hedge funds own 1.14% of the company’s stock.
HSBC Company Profile (NYSE: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.
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