HSBC Holdings PLC (HSBC) Downgraded by BidaskClub to Sell

BidaskClub cut shares of HSBC Holdings PLC (NYSE:HSBC) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also weighed in on HSBC. Berenberg Bank lowered shares of HSBC Holdings PLC from a buy rating to a hold rating in a report on Wednesday, July 5th. Zacks Investment Research lowered shares of HSBC Holdings PLC from a strong-buy rating to a hold rating in a report on Tuesday, July 11th. Jefferies Group LLC started coverage on shares of HSBC Holdings PLC in a report on Monday, September 4th. They issued a buy rating on the stock. Finally, Credit Suisse Group lowered shares of HSBC Holdings PLC from a neutral rating to an underperform rating in a report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $36.00.

HSBC Holdings PLC (NYSE:HSBC) last posted its earnings results on Monday, July 31st. The financial services provider reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.08. HSBC Holdings PLC had a net margin of 1.42% and a return on equity of 4.13%. The company had revenue of $13.17 billion for the quarter.

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Large investors have recently bought and sold shares of the business. Greenleaf Trust increased its stake in HSBC Holdings PLC by 26.8% in the 2nd quarter. Greenleaf Trust now owns 13,595 shares of the financial services provider’s stock valued at $631,000 after buying an additional 2,877 shares during the last quarter. American Assets Investment Management LLC increased its stake in HSBC Holdings PLC by 2.6% in the 2nd quarter. American Assets Investment Management LLC now owns 79,059 shares of the financial services provider’s stock valued at $3,668,000 after buying an additional 2,006 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in HSBC Holdings PLC by 12.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 20,302 shares of the financial services provider’s stock valued at $941,000 after buying an additional 2,216 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in HSBC Holdings PLC by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,310,658 shares of the financial services provider’s stock valued at $617,481,000 after buying an additional 99,537 shares during the last quarter. Finally, Baldwin Investment Management LLC increased its stake in HSBC Holdings PLC by 1.4% in the 2nd quarter. Baldwin Investment Management LLC now owns 7,219 shares of the financial services provider’s stock valued at $335,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 2.23% of the company’s stock.

HSBC Holdings PLC Company Profile

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.

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