HSBC Holdings plc (NYSE:HSBC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of HSBC Holdings plc (NYSE:HSBC) have been given an average rating of “Moderate Buy” by the twelve research firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $63.00.

Several equities research analysts recently commented on the company. Bank of America upgraded HSBC from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 10th. BNP Paribas Exane upgraded shares of HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of HSBC in a report on Monday. Citigroup restated a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. Finally, BNP Paribas raised HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th.

Hedge Funds Weigh In On HSBC

A number of hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. bought a new position in shares of HSBC in the third quarter valued at approximately $25,000. NewSquare Capital LLC boosted its holdings in HSBC by 152.6% during the 2nd quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 261 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of HSBC in the 3rd quarter worth $26,000. TD Private Client Wealth LLC increased its stake in HSBC by 101.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after buying an additional 234 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in shares of HSBC in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Performance

NYSE:HSBC opened at $74.73 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. HSBC has a fifty-two week low of $45.66 and a fifty-two week high of $75.92. The company has a 50 day simple moving average of $70.12 and a two-hundred day simple moving average of $66.22. The company has a market capitalization of $256.70 billion, a PE ratio of 15.73, a P/E/G ratio of 0.94 and a beta of 0.52.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.15. The company had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $16.78 billion. HSBC had a net margin of 12.85% and a return on equity of 12.78%. Research analysts anticipate that HSBC will post 6.66 earnings per share for the current year.

HSBC Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, November 7th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. This is a positive change from HSBC’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, November 7th. HSBC’s payout ratio is 41.68%.

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.