Brokerages Set HSBC Holdings plc (NYSE:HSBC) PT at $63.00

HSBC Holdings plc (NYSE:HSBC) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $63.00.

HSBC has been the subject of several recent research reports. Zacks Research upgraded HSBC from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. Morgan Stanley initiated coverage on HSBC in a research note on Wednesday, January 14th. They issued an “equal weight” rating for the company. Weiss Ratings cut HSBC from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, April 10th. Citigroup reiterated a “buy” rating on shares of HSBC in a research note on Friday, January 9th. Finally, The Goldman Sachs Group initiated coverage on HSBC in a research note on Thursday, March 26th. They issued a “buy” rating for the company.

HSBC Stock Performance

Shares of HSBC opened at $91.58 on Tuesday. The stock has a 50-day simple moving average of $85.87 and a 200-day simple moving average of $79.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $314.74 billion, a PE ratio of 15.14, a PEG ratio of 0.92 and a beta of 0.55. HSBC has a 1 year low of $51.60 and a 1 year high of $94.79.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Saturday, February 14th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter. The business had revenue of $17.70 billion during the quarter. HSBC had a return on equity of 13.10% and a net margin of 16.07%. On average, analysts predict that HSBC will post 8.17 earnings per share for the current fiscal year.

HSBC Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 13th will be paid a dividend of $2.25 per share. The ex-dividend date is Friday, March 13th. This is a positive change from HSBC’s previous quarterly dividend of $0.50. This represents a $9.00 annualized dividend and a yield of 9.8%. HSBC’s dividend payout ratio (DPR) is presently 148.43%.

Institutional Investors Weigh In On HSBC

Several institutional investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its stake in HSBC by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 17,800,748 shares of the financial services provider’s stock worth $1,400,385,000 after purchasing an additional 402,288 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in HSBC by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 10,575,644 shares of the financial services provider’s stock worth $750,659,000 after purchasing an additional 185,073 shares during the last quarter. Morgan Stanley lifted its stake in HSBC by 15.3% during the fourth quarter. Morgan Stanley now owns 7,483,883 shares of the financial services provider’s stock worth $588,757,000 after purchasing an additional 993,473 shares during the last quarter. Northern Trust Corp lifted its stake in HSBC by 4.7% during the third quarter. Northern Trust Corp now owns 3,045,134 shares of the financial services provider’s stock worth $216,144,000 after purchasing an additional 136,342 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in HSBC by 77.0% during the fourth quarter. Clearbridge Investments LLC now owns 1,443,716 shares of the financial services provider’s stock worth $113,577,000 after purchasing an additional 627,857 shares during the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

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.