HSBC (NYSE:HSBC) Cut to Underweight at Barclays

Barclays downgraded shares of HSBC (NYSE:HSBC) from an equal weight rating to an underweight rating in a report released on Wednesday morning, Briefing.com Automated Import reports.

A number of other research firms have also recently weighed in on HSBC. Goldman Sachs Group reiterated a buy rating and set a $21.50 price objective on shares of Infineon Technologies in a research report on Wednesday, May 22nd. ValuEngine cut shares of Zuora from a buy rating to a hold rating in a research report on Saturday, June 1st. Finally, Morgan Stanley reiterated a hold rating on shares of PG&E in a research report on Friday, June 21st. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. HSBC presently has an average rating of Hold and a consensus price target of $43.80.

HSBC stock opened at $41.34 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.97 and a quick ratio of 0.97. HSBC has a twelve month low of $38.23 and a twelve month high of $48.87. The company has a market capitalization of $165.12 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 2.98 and a beta of 0.66. The company’s fifty day moving average price is $41.42.



HSBC (NYSE:HSBC) last posted its quarterly earnings data on Friday, May 3rd. The financial services provider reported $1.08 earnings per share for the quarter. The firm had revenue of $14.41 billion for the quarter. Equities research analysts forecast that HSBC will post 3.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, May 17th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Thursday, May 16th. HSBC’s dividend payout ratio is currently 63.49%.

Several institutional investors and hedge funds have recently modified their holdings of HSBC. Lenox Wealth Management Inc. lifted its stake in HSBC by 5.4% in the second quarter. Lenox Wealth Management Inc. now owns 5,204 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 268 shares during the period. FDx Advisors Inc. lifted its position in shares of HSBC by 14.6% during the second quarter. FDx Advisors Inc. now owns 37,396 shares of the financial services provider’s stock valued at $1,561,000 after buying an additional 4,768 shares during the last quarter. Nwam LLC lifted its position in shares of HSBC by 2.9% during the second quarter. Nwam LLC now owns 9,629 shares of the financial services provider’s stock valued at $402,000 after buying an additional 274 shares during the last quarter. Courier Capital LLC lifted its position in shares of HSBC by 6.8% during the second quarter. Courier Capital LLC now owns 17,493 shares of the financial services provider’s stock valued at $730,000 after buying an additional 1,118 shares during the last quarter. Finally, Cornerstone Advisors Inc. lifted its position in shares of HSBC by 19.9% during the second quarter. Cornerstone Advisors Inc. now owns 3,025 shares of the financial services provider’s stock valued at $126,000 after buying an additional 502 shares during the last quarter. 2.49% of the stock is owned by hedge funds and other 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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