HSBC (HSBC) Receives “Neutral” Rating from Goldman Sachs Group

Goldman Sachs Group reaffirmed their neutral rating on shares of HSBC (NYSE:HSBC) in a research note released on Tuesday.

Several other research firms have also issued reports on HSBC. UBS restated a neutral rating on shares of HSBC in a research report on Wednesday, November 29th. Macquarie assumed coverage on HSBC in a research report on Wednesday, November 29th. They set an outperform rating on the stock. Credit Suisse Group lowered HSBC from a neutral rating to an underperform rating in a research report on Tuesday, October 10th. Zacks Investment Research lowered HSBC from a strong-buy rating to a hold rating in a research report on Monday, October 9th. Finally, J P Morgan Chase & Co reiterated a neutral rating on shares of HSBC in a research report on Friday, November 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. HSBC has an average rating of Hold and an average target price of $31.50.

HSBC (NYSE HSBC) traded down $0.26 on Tuesday, reaching $49.08. The company had a trading volume of 1,151,500 shares, compared to its average volume of 1,631,334. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30. HSBC has a fifty-two week low of $39.58 and a fifty-two week high of $50.86. The company has a market cap of $195,070.00, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 2.57 and a beta of 0.93.

Several hedge funds have recently modified their holdings of HSBC. UBS Asset Management Americas Inc. boosted its position in shares of 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 in the last quarter. LS Investment Advisors LLC boosted its position in shares of 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 in the last quarter. Baldwin Investment Management LLC boosted its position in shares of 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 in the last quarter. CIBC Asset Management Inc boosted its position in shares of 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 in the last quarter. Finally, Todd Asset Management LLC boosted its position in shares of HSBC by 0.6% during the second quarter. Todd Asset Management LLC now owns 27,964 shares of the financial services provider’s stock valued at $1,297,000 after purchasing an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 2.25% of the company’s stock.

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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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