HSBC Holdings plc (NYSE:HSBC – Get Free Report) has received an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $560.00.
A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of HSBC from GBX 800 ($9.82) to GBX 825 ($10.13) in a research note on Monday, August 14th. StockNews.com started coverage on HSBC in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. UBS Group lowered HSBC from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 29th. Berenberg Bank upped their target price on shares of HSBC from GBX 780 ($9.58) to GBX 820 ($10.07) in a report on Thursday, August 3rd. Finally, The Goldman Sachs Group upgraded shares of HSBC from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 12th.
HSBC Trading Up 1.4 %
HSBC (NYSE:HSBC – Get Free Report) last posted its quarterly earnings results on Monday, October 30th. The financial services provider reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.07). HSBC had a return on equity of 14.04% and a net margin of 24.42%. The business had revenue of $34.11 billion for the quarter. During the same quarter in the prior year, the company earned $0.48 EPS. As a group, equities analysts forecast that HSBC will post 6.74 EPS for the current year.
HSBC Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, November 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date is Thursday, November 9th. HSBC’s dividend payout ratio is currently 28.70%.
Hedge Funds Weigh In On HSBC
Several large investors have recently made changes to their positions in HSBC. Dimensional Fund Advisors LP boosted its stake in shares of HSBC by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,964,950 shares of the financial services provider’s stock valued at $434,420,000 after purchasing an additional 438,181 shares during the last quarter. Morgan Stanley grew its holdings in HSBC by 0.9% during the 3rd quarter. Morgan Stanley now owns 8,374,688 shares of the financial services provider’s stock worth $330,465,000 after acquiring an additional 73,129 shares during the period. Goldman Sachs Group Inc. raised its position in shares of HSBC by 3.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,799,348 shares of the financial services provider’s stock valued at $190,150,000 after acquiring an additional 178,435 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of HSBC by 44.6% in the 2nd quarter. Lazard Asset Management LLC now owns 4,422,142 shares of the financial services provider’s stock valued at $175,204,000 after purchasing an additional 1,364,367 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of HSBC by 186.8% during the first quarter. Bank of America Corp DE now owns 3,367,602 shares of the financial services provider’s stock worth $114,936,000 after purchasing an additional 2,193,561 shares during the period. Institutional investors and hedge funds own 1.48% of the company’s stock.
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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