BidaskClub Lowers HSBC Holdings PLC (HSBC) to Buy

BidaskClub lowered shares of HSBC Holdings PLC (NYSE:HSBC) from a strong-buy rating to a buy rating in a research note released on Thursday.

Separately, Zacks Investment Research raised shares of HSBC Holdings PLC from a hold rating to a buy rating and set a $49.00 target price on the stock in a report on Thursday, May 11th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. HSBC Holdings PLC presently has a consensus rating of Buy and a consensus target price of $35.12.

Analyst Recommendations for HSBC Holdings PLC (NYSE:HSBC)

HSBC Holdings PLC (NYSE:HSBC) opened at 44.18 on Thursday. HSBC Holdings PLC has a 12 month low of $28.62 and a 12 month high of $44.44. The company has a 50-day moving average price of $43.42 and a 200 day moving average price of $41.83. The firm has a market cap of $172.85 billion, a PE ratio of 327.26 and a beta of 0.93.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Friday, May 19th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, May 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.53%. HSBC Holdings PLC’s dividend payout ratio (DPR) is presently 1,333.33%.

Several large investors have recently added to or reduced their stakes in the stock. Quantitative Systematic Strategies LLC acquired a new stake in HSBC Holdings PLC during the first quarter worth $394,000. Toronto Dominion Bank boosted its stake in HSBC Holdings PLC by 11.4% in the first quarter. Toronto Dominion Bank now owns 3,919 shares of the financial services provider’s stock worth $160,000 after buying an additional 400 shares during the period. Sit Investment Associates Inc. boosted its stake in HSBC Holdings PLC by 46.8% in the first quarter. Sit Investment Associates Inc. now owns 74,765 shares of the financial services provider’s stock worth $3,052,000 after buying an additional 23,825 shares during the period. BB&T Corp boosted its stake in HSBC Holdings PLC by 13.8% in the first quarter. BB&T Corp now owns 125,209 shares of the financial services provider’s stock worth $5,111,000 after buying an additional 15,222 shares during the period. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in HSBC Holdings PLC during the first quarter worth $240,000. 2.37% of the stock is currently owned by institutional investors.

About HSBC Holdings PLC

HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “HSBC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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