HSBC (NYSE:HSBC) Given New GBX 575 Price Target at Credit Suisse Group

HSBC (NYSE:HSBCGet Rating) had its price target raised by Credit Suisse Group from GBX 525 ($6.43) to GBX 575 ($7.05) in a report released on Tuesday, The Fly reports.

Other analysts have also issued research reports about the company. Royal Bank of Canada lifted their price objective on HSBC from GBX 550 ($6.74) to GBX 590 ($7.23) in a report on Friday, May 6th. JPMorgan Chase & Co. boosted their price target on HSBC from GBX 540 ($6.62) to GBX 550 ($6.74) in a research note on Thursday, May 19th. Morgan Stanley boosted their price target on HSBC from GBX 590 ($7.23) to GBX 624 ($7.65) in a research note on Wednesday, July 6th. Barclays boosted their price target on HSBC from GBX 725 ($8.88) to GBX 735 ($9.01) in a research note on Wednesday, April 20th. Finally, BNP Paribas lowered HSBC from an outperform rating to a neutral rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, HSBC has an average rating of Moderate Buy and a consensus price target of $609.86.

HSBC Price Performance

Shares of NYSE:HSBC opened at $32.45 on Tuesday. HSBC has a 1-year low of $24.31 and a 1-year high of $38.61. The firm has a market capitalization of $132.49 billion, a PE ratio of 11.39, a PEG ratio of 0.46 and a beta of 0.51. The business’s 50 day moving average is $32.11 and its 200-day moving average is $33.21. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, August 19th will be given a $0.45 dividend. The ex-dividend date is Thursday, August 18th. This represents a $1.80 annualized dividend and a yield of 5.55%. HSBC’s payout ratio is 43.51%.

Hedge Funds Weigh In On HSBC

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its position in shares of HSBC by 229.1% during the first quarter. EverSource Wealth Advisors LLC now owns 826 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 575 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of HSBC by 276.7% during the second quarter. Hexagon Capital Partners LLC now owns 855 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 628 shares during the last quarter. JFS Wealth Advisors LLC raised its position in shares of HSBC by 352.4% during the first quarter. JFS Wealth Advisors LLC now owns 1,054 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 821 shares during the last quarter. Spire Wealth Management raised its position in shares of HSBC by 74.6% during the second quarter. Spire Wealth Management now owns 1,170 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 500 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of HSBC by 37.5% during the fourth quarter. Fifth Third Bancorp now owns 1,433 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 391 shares during the last quarter. Institutional investors own 1.14% of the company’s stock.

About HSBC

(Get Rating)

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.

Featured Stories

The Fly logo

Analyst Recommendations for HSBC (NYSE:HSBC)

Want More Great Investing Ideas?

Receive News & Ratings for HSBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HSBC and related companies with MarketBeat.com's FREE daily email newsletter.