Brokerages Set HSBC Holdings plc (NYSE:HSBC) Target Price at $560.00

Shares of HSBC Holdings plc (NYSE:HSBC) have been assigned an average rating of “Hold” from the nine analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $560.00.

Several research firms have recently commented on HSBC. BNP Paribas downgraded HSBC from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 16th. Barclays reaffirmed an “equal weight” rating on shares of HSBC in a research note on Wednesday, March 27th.

HSBC Stock Down 0.1 %

HSBC stock opened at $40.60 on Tuesday. The business’s 50-day moving average is $39.23 and its two-hundred day moving average is $39.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.90 and a current ratio of 0.90. HSBC has a fifty-two week low of $34.89 and a fifty-two week high of $42.47. The company has a market cap of $154.23 billion, a price-to-earnings ratio of 7.12, a P/E/G ratio of 0.96 and a beta of 0.63.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, February 21st. The financial services provider reported $0.57 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.33). HSBC had a return on equity of 12.89% and a net margin of 19.02%. The company had revenue of $13.02 billion during the quarter. As a group, analysts forecast that HSBC will post 7.24 earnings per share for the current year.

HSBC Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Friday, March 8th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 15.27%. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from HSBC’s previous quarterly dividend of $0.50. HSBC’s dividend payout ratio (DPR) is 108.42%.

Institutional Trading of HSBC

Several institutional investors and hedge funds have recently added to or reduced their stakes in HSBC. Bank of New York Mellon Corp grew its holdings in HSBC by 14.8% during the 1st quarter. Bank of New York Mellon Corp now owns 79,629 shares of the financial services provider’s stock valued at $2,725,000 after buying an additional 10,252 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in HSBC by 55.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,494 shares of the financial services provider’s stock valued at $564,000 after buying an additional 5,861 shares in the last quarter. HighTower Advisors LLC grew its holdings in HSBC by 204.5% during the 1st quarter. HighTower Advisors LLC now owns 48,310 shares of the financial services provider’s stock valued at $1,653,000 after buying an additional 32,446 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in HSBC by 5.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 8,603 shares of the financial services provider’s stock valued at $294,000 after buying an additional 463 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in HSBC by 14.2% during the 1st quarter. BlackRock Inc. now owns 1,676,933 shares of the financial services provider’s stock valued at $57,385,000 after buying an additional 208,393 shares in the last quarter. Institutional investors own 1.48% of the company’s stock.

HSBC Company Profile

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.