HSBC (NYSE:HSBC) Stock Rating Upgraded by Barclays

HSBC (NYSE:HSBC) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports.

A number of other brokerages have also weighed in on HSBC. Royal Bank of Canada reiterated a “sector perform” rating on shares of HSBC in a report on Monday, February 3rd. StockNews.com lowered shares of HSBC from a “hold” rating to a “sell” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft lowered shares of HSBC from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

HSBC Price Performance

HSBC stock opened at $61.56 on Tuesday. The firm has a 50-day moving average price of $52.92 and a 200-day moving average price of $48.09. The firm has a market capitalization of $219.61 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 1.05 and a beta of 0.51. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69. HSBC has a 12-month low of $36.93 and a 12-month high of $61.88.

HSBC (NYSE:HSBC) last released its earnings results on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.04. The firm had revenue of $11.56 billion during the quarter, compared to analyst estimates of $13.79 billion. HSBC had a net margin of 16.17% and a return on equity of 12.20%. As a group, equities research analysts forecast that HSBC will post 6.66 EPS for the current year.

Institutional Investors Weigh In On HSBC

Several large investors have recently modified their holdings of the business. Northern Trust Corp grew its position in shares of HSBC by 52.0% in the 4th quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider’s stock worth $137,563,000 after buying an additional 951,050 shares during the last quarter. FMR LLC grew its position in shares of HSBC by 44.3% in the 3rd quarter. FMR LLC now owns 2,442,205 shares of the financial services provider’s stock worth $110,363,000 after buying an additional 749,759 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of HSBC in the 4th quarter worth approximately $17,815,000. Contrarian Capital Management L.L.C. purchased a new position in shares of HSBC in the 4th quarter worth approximately $11,914,000. Finally, Bank of New York Mellon Corp grew its position in shares of HSBC by 135.6% in the 4th quarter. Bank of New York Mellon Corp now owns 347,565 shares of the financial services provider’s stock worth $17,191,000 after buying an additional 200,054 shares during the last quarter. Institutional investors own 1.48% of the company’s stock.

HSBC Company Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.