Macquarie Initiates Coverage on HSBC (HSBC)

Macquarie assumed coverage on shares of HSBC (NYSE:HSBC) in a research note published on Wednesday, Marketbeat reports. The firm issued an outperform rating on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on HSBC. UBS reissued a neutral rating on shares of HSBC in a research note on Wednesday. Morgan Stanley reissued a buy rating on shares of HSBC in a research note on Wednesday, August 16th. J P Morgan Chase & Co reissued a neutral rating on shares of HSBC in a research note on Friday, November 24th. Zacks Investment Research cut HSBC from a buy rating to a hold rating in a research note on Tuesday, August 22nd. Finally, BidaskClub cut HSBC from a buy rating to a hold rating in a research note on Saturday, August 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $31.50.

HSBC (NYSE:HSBC) opened at $49.56 on Wednesday. HSBC has a 52 week low of $39.52 and a 52 week high of $50.86. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $197,940.02, a PE ratio of 24.90, a price-to-earnings-growth ratio of 2.58 and a beta of 0.93.

Several hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its position in HSBC by 0.7% during the second quarter. Parkside Financial Bank & Trust now owns 5,960 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 40 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in HSBC by 1.8% during the second quarter. UBS Asset Management Americas Inc. now owns 2,477 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 43 shares during the last quarter. LS Investment Advisors LLC boosted its position in HSBC by 2.6% during the second quarter. LS Investment Advisors LLC now owns 2,338 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 59 shares during the last quarter. Baldwin Investment Management LLC boosted its position in HSBC by 1.4% during the second quarter. Baldwin Investment Management LLC now owns 7,219 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 99 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in HSBC by 1.2% during the second quarter. CIBC Asset Management Inc now owns 12,790 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 150 shares during the last quarter. 4.69% of the stock is owned by institutional investors.

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About HSBC

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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