Analysts Set HSBC Holdings plc (NYSE:HSBC) Target Price at $63.00

HSBC Holdings plc (NYSE:HSBC) has been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $63.00.

HSBC has been the topic of several recent analyst reports. BNP Paribas Exane upgraded HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. Citigroup reiterated a “buy” rating on shares of HSBC in a report on Monday, September 22nd. Finally, BNP Paribas upgraded shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th.

HSBC Trading Down 0.8%

NYSE:HSBC opened at $70.78 on Friday. HSBC has a fifty-two week low of $43.81 and a fifty-two week high of $71.58. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.93. The stock has a market capitalization of $245.62 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.62. The business’s 50-day simple moving average is $66.13 and its 200-day simple moving average is $60.73.

HSBC (NYSE:HSBC) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.33. HSBC had a return on equity of 12.73% and a net margin of 13.48%.The business had revenue of $16.90 billion for the quarter, compared to analysts’ expectations of $16.64 billion. Sell-side analysts expect that HSBC will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 15th were issued a $0.495 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.8%. HSBC’s dividend payout ratio (DPR) is 39.21%.

Institutional Trading of HSBC

A number of hedge funds and other institutional investors have recently made changes to their positions in HSBC. Focus Partners Advisor Solutions LLC boosted its stake in HSBC by 4.4% in the second quarter. Focus Partners Advisor Solutions LLC now owns 4,022 shares of the financial services provider’s stock valued at $244,000 after buying an additional 168 shares in the last quarter. Moors & Cabot Inc. boosted its stake in HSBC by 2.7% in the second quarter. Moors & Cabot Inc. now owns 7,152 shares of the financial services provider’s stock valued at $435,000 after buying an additional 189 shares in the last quarter. Lido Advisors LLC boosted its stake in HSBC by 3.1% in the second quarter. Lido Advisors LLC now owns 6,267 shares of the financial services provider’s stock valued at $381,000 after buying an additional 189 shares in the last quarter. Westover Capital Advisors LLC boosted its stake in HSBC by 2.5% in the first quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider’s stock valued at $468,000 after buying an additional 200 shares in the last quarter. Finally, Contravisory Investment Management Inc. boosted its stake in HSBC by 4.4% in the second quarter. Contravisory Investment Management Inc. now owns 4,972 shares of the financial services provider’s stock valued at $302,000 after buying an additional 210 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

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.