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

HSBC Holdings plc (NYSE:HSBC) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $63.00.

Several equities research analysts have recently weighed in on HSBC shares. BNP Paribas Exane cut HSBC from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 14th. Zacks Research cut HSBC from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group assumed coverage on HSBC in a research report on Thursday, March 26th. They issued a “buy” rating for the company. Morgan Stanley assumed coverage on HSBC in a research report on Wednesday, January 14th. They issued an “equal weight” rating for the company. Finally, Weiss Ratings downgraded HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th.

HSBC Stock Up 0.7%

HSBC opened at $90.60 on Friday. HSBC has a 1-year low of $57.85 and a 1-year high of $94.79. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $311.37 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 0.91 and a beta of 0.56. The business has a 50 day moving average of $86.24 and a 200-day moving average of $81.51.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share for the quarter. HSBC had a return on equity of 13.35% and a net margin of 16.06%.The company had revenue of $19.13 billion during the quarter. As a group, sell-side analysts anticipate that HSBC will post 8.51 earnings per share for the current year.

HSBC Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, May 15th will be given a $0.50 dividend. The ex-dividend date is Friday, May 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. HSBC’s dividend payout ratio (DPR) is currently 147.21%.

Insider Activity at HSBC

In other HSBC news, insider Daniel Scott Palomaki sold 23,123 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.11, for a total value of $418,757.53. Following the completion of the sale, the insider owned 4,973 shares in the company, valued at approximately $90,061.03. This trade represents a 82.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.01% of the company’s stock.

Institutional Trading of HSBC

Hedge funds have recently modified their holdings of the company. Mather Group LLC. bought a new stake in shares of HSBC in the 3rd quarter worth approximately $25,000. Transamerica Financial Advisors LLC lifted its position in shares of HSBC by 287.1% during the 4th quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock worth $26,000 after buying an additional 244 shares during the period. Measured Wealth Private Client Group LLC bought a new position in shares of HSBC during the 3rd quarter worth approximately $26,000. Binnacle Investments Inc lifted its position in shares of HSBC by 80.5% during the 3rd quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock worth $32,000 after buying an additional 198 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in shares of HSBC during the 1st quarter worth approximately $41,000. Institutional investors own 1.48% of the company’s stock.

HSBC Company Profile

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.