HSBC (NYSE:HSBC) Upgraded by Keefe, Bruyette & Woods to Outperform Rating

HSBC (NYSE:HSBC) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday,Benzinga reports.

HSBC has been the topic of several other reports. BNP Paribas Exane upgraded HSBC from an “underperform” rating to an “outperform” rating in a research report on Friday, September 5th. Zacks Research raised HSBC from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. Citigroup restated a “buy” rating on shares of HSBC in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of HSBC in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, HSBC presently has an average rating of “Moderate Buy” and an average price target of $63.00.

HSBC Stock Up 2.8%

HSBC stock traded up $2.08 during midday trading on Wednesday, reaching $76.74. The company had a trading volume of 1,354,781 shares, compared to its average volume of 1,917,576. The company has a 50 day moving average of $70.12 and a two-hundred day moving average of $66.22. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. HSBC has a 1 year low of $45.66 and a 1 year high of $77.32. The company has a market capitalization of $263.61 billion, a P/E ratio of 16.17, a PEG 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 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. HSBC had a return on equity of 12.78% and a net margin of 12.85%.The business had revenue of $17.90 billion for the quarter, compared to analyst estimates of $16.78 billion. On average, equities research analysts expect that HSBC will post 6.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in HSBC by 1.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock worth $271,438,000 after buying an additional 53,072 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in shares of HSBC during the 1st quarter valued at about $391,000. Acadian Asset Management LLC grew its position in HSBC by 254.2% during the first quarter. Acadian Asset Management LLC now owns 23,718 shares of the financial services provider’s stock valued at $1,362,000 after acquiring an additional 17,021 shares during the last quarter. ABC Arbitrage SA lifted its holdings in shares of HSBC by 237.0% in the 2nd quarter. ABC Arbitrage SA now owns 170,779 shares of the financial services provider’s stock worth $10,382,000 after acquiring an additional 120,110 shares during the last quarter. Finally, Fortis Capital Advisors LLC purchased a new stake in shares of HSBC in the 1st quarter valued at $391,000. 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.