HSBC Holdings PLC (NYSE:HSBC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “Shares of HSBC on NYSE have outperformed the industry in the last six months. Continued success of its cost saving efforts should improve the bank’s operating efficiency and support profitability. The company will likely benefit from its extensive global network and solid asset growth. Further, the announcement of $2 billion share repurchase plan reflects its strong capital position and boosts investors’ confidence in the stock. However, dismal European economic growth and weak loan demand are expected to lead to muted revenue growth in the near-term. Also, regulatory probes and litigations related to past business mal-practices continue to adversely impact the company’s financials.”

HSBC has been the topic of several other reports. BidaskClub raised shares of HSBC Holdings PLC from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Jefferies Group LLC started coverage on shares of HSBC Holdings PLC in a research note on Monday, September 4th. They set a “buy” rating on the stock. Berenberg Bank downgraded shares of HSBC Holdings PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Morgan Stanley raised shares of HSBC Holdings PLC from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $36.00.

HSBC Holdings PLC (NYSE:HSBC) opened at 50.60 on Monday. HSBC Holdings PLC has a 12 month low of $36.79 and a 12 month high of $50.86. The firm has a 50-day moving average of $48.60 and a 200 day moving average of $45.60. The firm has a market capitalization of $205.13 billion, a PE ratio of 103.27 and a beta of 0.87.

HSBC Holdings PLC (NYSE:HSBC) last posted its quarterly earnings results on Monday, July 31st. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. The firm had revenue of $13.17 billion for the quarter. HSBC Holdings PLC had a net margin of 1.42% and a return on equity of 2.08%. Equities research analysts forecast that HSBC Holdings PLC will post $2.95 earnings per share for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. increased its stake in shares of HSBC Holdings PLC by 16.0% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,208 shares of the financial services provider’s stock worth $102,000 after buying an additional 304 shares during the period. LS Investment Advisors LLC increased its stake in shares of HSBC Holdings PLC by 2.6% in the second quarter. LS Investment Advisors LLC now owns 2,338 shares of the financial services provider’s stock worth $108,000 after buying an additional 59 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of HSBC Holdings PLC by 89.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,413 shares of the financial services provider’s stock worth $112,000 after buying an additional 1,139 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of HSBC Holdings PLC by 1.8% in the second quarter. UBS Asset Management Americas Inc. now owns 2,477 shares of the financial services provider’s stock worth $115,000 after buying an additional 43 shares during the period. Finally, Archford Capital Strategies LLC increased its stake in shares of HSBC Holdings PLC by 250.9% in the second quarter. Archford Capital Strategies LLC now owns 2,488 shares of the financial services provider’s stock worth $360,000 after buying an additional 1,779 shares during the period. 2.23% of the stock is currently owned by institutional investors.

About HSBC Holdings PLC

HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.

Analyst Recommendations for HSBC Holdings PLC (NYSE:HSBC)

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