HSBC (NYSE:HSBC) Raised to Buy at Investec

Investec upgraded shares of HSBC (NYSE:HSBC) from a hold rating to a buy rating in a research note released on Wednesday morning, Briefing.com Automated Import reports.

A number of other equities research analysts have also issued reports on the company. Jefferies Financial Group lowered HSBC from a buy rating to a hold rating in a research report on Sunday, May 31st. ValuEngine raised HSBC from a sell rating to a hold rating in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods lowered HSBC from an outperform rating to an underperform rating in a research report on Wednesday, April 1st. Berenberg Bank raised HSBC from a sell rating to a hold rating in a research report on Thursday, May 14th. Finally, Deutsche Bank initiated coverage on HSBC in a research report on Tuesday, July 14th. They issued a sell rating on the stock. Ten equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $33.00.

HSBC stock traded down $0.11 during midday trading on Wednesday, reaching $22.65. 5,842,836 shares of the stock traded hands, compared to its average volume of 3,324,399. The company has a 50-day simple moving average of $23.74 and a two-hundred day simple moving average of $28.55. HSBC has a 12-month low of $22.34 and a 12-month high of $40.38. The firm has a market cap of $92.26 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 0.86 and a beta of 0.60. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.50.

HSBC (NYSE:HSBC) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.22). HSBC had a net margin of 6.54% and a return on equity of 5.87%. The firm had revenue of $13.33 billion for the quarter. Equities research analysts anticipate that HSBC will post 1.73 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Verus Capital Partners LLC purchased a new stake in shares of HSBC in the fourth quarter worth about $33,000. Total Clarity Wealth Management Inc. bought a new position in HSBC during the fourth quarter worth about $38,000. HHM Wealth Advisors LLC bought a new position in HSBC during the first quarter worth about $39,000. Selective Wealth Management Inc. bought a new position in shares of HSBC in the second quarter valued at approximately $44,000. Finally, Lindbrook Capital LLC raised its stake in shares of HSBC by 42.2% in the second quarter. Lindbrook Capital LLC now owns 2,388 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 709 shares during the last quarter. 1.67% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for HSBC (NYSE:HSBC)

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