HSBC (NYSE:HSBC) Raised to “Buy” at Wall Street Zen

HSBC (NYSE:HSBC) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other research firms also recently issued reports on HSBC. BNP Paribas Exane downgraded HSBC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of HSBC in a research report on Tuesday, June 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of HSBC in a report on Monday, August 3rd. Zacks Research cut HSBC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of HSBC in a report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

HSBC Stock Up 0.1%

HSBC stock opened at $103.60 on Friday. HSBC has a twelve month low of $63.54 and a twelve month high of $107.92. The firm has a 50 day moving average price of $101.00 and a 200-day moving average price of $92.85. The company has a market capitalization of $356.04 billion, a P/E ratio of 14.70, a P/E/G ratio of 0.99 and a beta of 0.57. The company has a quick ratio of 0.92, a current ratio of 0.85 and a debt-to-equity ratio of 0.67.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.01. HSBC had a net margin of 18.19% and a return on equity of 13.80%. The company had revenue of $19.04 billion during the quarter, compared to analyst estimates of $18.66 billion. As a group, equities analysts predict that HSBC will post 8.56 EPS for the current year.

Hedge Funds Weigh In On HSBC

A number of large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of HSBC by 1,272.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 909,464 shares of the financial services provider’s stock valued at $71,548,000 after buying an additional 843,186 shares in the last quarter. Quantinno Capital Management LP boosted its stake in HSBC by 20.9% in the first quarter. Quantinno Capital Management LP now owns 525,775 shares of the financial services provider’s stock worth $43,371,000 after buying an additional 90,711 shares in the last quarter. Bleakley Financial Group LLC bought a new position in HSBC during the fourth quarter valued at approximately $988,000. May Hill Capital LLC raised its stake in shares of HSBC by 105.9% during the fourth quarter. May Hill Capital LLC now owns 23,424 shares of the financial services provider’s stock worth $1,843,000 after acquiring an additional 12,047 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its holdings in shares of HSBC by 41.1% in the 4th quarter. Prospera Financial Services Inc now owns 51,238 shares of the financial services provider’s stock worth $4,032,000 after acquiring an additional 14,933 shares during the last quarter. 1.48% of the stock is owned by institutional investors.

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.