HSBC Holdings plc (NYSE:HSBC) Receives $63.00 Average Target Price from Analysts

Shares of HSBC Holdings plc (NYSE:HSBC) have been assigned a consensus recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $63.00.

HSBC has been the subject of a number of research reports. Jefferies Financial Group reiterated a “hold” rating on shares of HSBC in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of HSBC in a research note on Wednesday, October 8th. Zacks Research cut HSBC from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Citigroup reiterated a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. Finally, BNP Paribas Exane raised HSBC from an “underperform” rating to an “outperform” rating in a research report on Friday, September 5th.

HSBC Stock Up 0.3%

Shares of HSBC opened at $67.17 on Tuesday. HSBC has a 52 week low of $44.40 and a 52 week high of $72.21. The stock has a market capitalization of $231.78 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 1.76 and a beta of 0.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86. The stock has a fifty day moving average of $67.53 and a 200-day moving average of $62.34.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.33. HSBC had a return on equity of 12.73% and a net margin of 13.48%.The company had revenue of $16.90 billion during the quarter, compared to analysts’ expectations of $16.64 billion. As a group, sell-side analysts anticipate that HSBC will post 6.66 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 15th were given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, August 15th. HSBC’s dividend payout ratio (DPR) is currently 39.21%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Fisher Asset Management LLC grew its holdings in HSBC by 9.2% during the 2nd quarter. Fisher Asset Management LLC now owns 17,043,371 shares of the financial services provider’s stock worth $1,036,067,000 after acquiring an additional 1,430,797 shares during the period. Contrarian Capital Management L.L.C. grew its holdings in HSBC by 425.4% during the 1st quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider’s stock worth $72,687,000 after acquiring an additional 1,024,780 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of HSBC by 729.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,953 shares of the financial services provider’s stock valued at $22,280,000 after buying an additional 341,187 shares during the period. JPMorgan Chase & Co. grew its stake in shares of HSBC by 160.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 502,200 shares of the financial services provider’s stock valued at $30,529,000 after buying an additional 309,738 shares during the period. Finally, 1832 Asset Management L.P. acquired a new stake in shares of HSBC in the 1st quarter valued at about $17,430,000. 1.48% of the stock is owned by institutional investors.

About 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.