HSBC (NYSE:HSBC) Shares Gap Up to $23.20

HSBC Holdings plc (NYSE:HSBC) shares gapped up prior to trading on Thursday . The stock had previously closed at $22.27, but opened at $23.20. HSBC shares last traded at $23.20, with a volume of 3,684,600 shares trading hands.

HSBC has been the topic of several analyst reports. BNP Paribas lowered HSBC from a “neutral” rating to an “underperform” rating in a research note on Friday, March 6th. Morgan Stanley reiterated a “sell” rating on shares of HSBC in a research note on Wednesday, May 27th. UBS Group reiterated a “neutral” rating on shares of HSBC in a research note on Wednesday, April 29th. Bank of America lowered HSBC from a “buy” rating to a “neutral” rating in a research note on Monday, March 30th. Finally, Societe Generale lowered HSBC from a “hold” rating to a “sell” rating in a research note on Tuesday, March 24th. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.00.

The firm has a market cap of $98.81 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 0.92 and a beta of 0.60. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average price of $24.19 and a two-hundred day moving average price of $30.65.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.22). HSBC had a return on equity of 5.87% and a net margin of 6.54%. The business had revenue of $13.33 billion for the quarter. As a group, equities analysts anticipate that HSBC Holdings plc will post 1.73 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Logan Capital Management Inc. lifted its holdings in shares of HSBC by 0.9% during the fourth quarter. Logan Capital Management Inc. now owns 29,547 shares of the financial services provider’s stock worth $1,155,000 after purchasing an additional 264 shares during the period. Parallel Advisors LLC lifted its holdings in shares of HSBC by 11.9% during the first quarter. Parallel Advisors LLC now owns 4,154 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 441 shares during the period. RMB Capital Management LLC lifted its holdings in shares of HSBC by 6.9% during the fourth quarter. RMB Capital Management LLC now owns 9,051 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 587 shares during the period. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of HSBC by 10.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 7,301 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 680 shares during the period. Finally, Argent Advisors Inc. lifted its holdings in shares of HSBC by 5.1% during the first quarter. Argent Advisors Inc. now owns 14,292 shares of the financial services provider’s stock worth $400,000 after purchasing an additional 691 shares during the period. 1.69% of the stock is owned by hedge funds and other institutional investors.

HSBC Company Profile (NYSE:HSBC)

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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