HSBC (NYSE:HSBC) was upgraded by analysts at Credit Suisse Group from an “underperform” rating to a “neutral” rating in a report issued on Thursday, September 20th, Marketbeat.com reports.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of HSBC from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Societe Generale cut shares of HSBC from a “buy” rating to a “hold” rating in a research note on Monday, September 10th. Keefe, Bruyette & Woods raised shares of HSBC from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 11th. DZ Bank reissued a “sell” rating on shares of HSBC in a research note on Monday, August 6th. Finally, JPMorgan Chase & Co. raised shares of HSBC from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold”.
NYSE:HSBC traded up $0.20 during mid-day trading on Thursday, reaching $41.98. The stock had a trading volume of 2,150,137 shares, compared to its average volume of 1,529,192. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.96 and a current ratio of 0.90. HSBC has a twelve month low of $41.48 and a twelve month high of $55.89.
HSBC (NYSE:HSBC) last issued its earnings results on Monday, August 6th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.05. The company had revenue of $13.58 billion during the quarter. On average, research analysts forecast that HSBC will post 3.65 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Hilltop Holdings Inc. purchased a new stake in HSBC in the 2nd quarter worth approximately $214,000. Integrated Investment Consultants LLC acquired a new position in shares of HSBC in the 2nd quarter valued at $131,000. Brown Advisory Inc. boosted its holdings in shares of HSBC by 3.6% in the 2nd quarter. Brown Advisory Inc. now owns 113,788 shares of the financial services provider’s stock valued at $5,364,000 after purchasing an additional 3,901 shares during the last quarter. Morningstar Investment Services LLC boosted its holdings in shares of HSBC by 23.4% in the 2nd quarter. Morningstar Investment Services LLC now owns 16,942 shares of the financial services provider’s stock valued at $799,000 after purchasing an additional 3,216 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of HSBC by 3.7% in the 2nd quarter. Fisher Asset Management LLC now owns 15,263,372 shares of the financial services provider’s stock valued at $719,515,000 after purchasing an additional 547,544 shares during the last quarter. 2.56% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Story: What is an Initial Public Offering (IPO)?
Receive News & Ratings for HSBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HSBC and related companies with MarketBeat.com's FREE daily email newsletter.