HSBC (HSBC) Downgraded by ValuEngine

ValuEngine cut shares of HSBC (NYSE:HSBC) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

Several other equities analysts also recently commented on HSBC. Zacks Investment Research downgraded HSBC from a hold rating to a sell rating in a research report on Tuesday, October 23rd. Keefe, Bruyette & Woods downgraded HSBC from an outperform rating to a market perform rating in a research report on Friday, January 25th. Citigroup downgraded HSBC from a buy rating to a neutral rating in a research report on Monday, October 22nd. Royal Bank of Canada downgraded HSBC from a sector perform rating to an underperform rating in a research report on Tuesday, October 23rd. Finally, Edward Jones downgraded HSBC from a hold rating to a sell rating in a research report on Wednesday, December 19th. Seven analysts have rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $47.00.

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HSBC stock opened at $41.82 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.96 and a current ratio of 0.96. HSBC has a 12 month low of $38.23 and a 12 month high of $54.15.

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC raised its position in shares of HSBC by 53.8% during the fourth quarter. CWM LLC now owns 755 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 264 shares during the last quarter. Lavaca Capital LLC bought a new position in shares of HSBC during the fourth quarter worth about $44,000. Cornerstone Advisors Inc. raised its position in shares of HSBC by 66.3% during the fourth quarter. Cornerstone Advisors Inc. now owns 1,465 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 584 shares during the last quarter. Legal & General Group Plc bought a new position in shares of HSBC during the third quarter worth about $71,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of HSBC by 16.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 2,274 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 314 shares during the last quarter. Institutional investors own 2.53% of the company’s stock.

HSBC Company Profile

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

Further Reading: Quiet Period

To view ValuEngine’s full report, visit ValuEngine’s official website.

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