HSBC (NYSE:HSBC) Downgraded by Morgan Stanley

Morgan Stanley lowered shares of HSBC (NYSE:HSBC) from an overweight rating to an equal weight rating in a research report report published on Friday, Briefing.com Automated Import reports.

Other equities research analysts have also recently issued research reports about the stock. Goldman Sachs Group upgraded shares of HSBC from a neutral rating to a buy rating in a research report on Wednesday, May 22nd. ValuEngine upgraded shares of HSBC from a sell rating to a hold rating in a research report on Saturday, June 1st. Credit Suisse Group reiterated a hold rating on shares of HSBC in a research report on Friday, February 22nd. JPMorgan Chase & Co. reiterated a sell rating on shares of HSBC in a research report on Friday, March 8th. Finally, Deutsche Bank reiterated a sell rating on shares of HSBC in a research report on Friday, March 1st. Eight research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $43.80.

Shares of HSBC stock opened at $41.10 on Friday. The stock has a market cap of $163.81 billion, a P/E ratio of 13.05, a PEG ratio of 2.76 and a beta of 0.67. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.50. HSBC has a 12-month low of $38.23 and a 12-month high of $48.87.

HSBC (NYSE:HSBC) last announced its earnings results on Friday, May 3rd. The financial services provider reported $1.08 earnings per share (EPS) for the quarter. The firm had revenue of $14.41 billion for the quarter. As a group, equities research analysts forecast that HSBC will post 3.59 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, May 17th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Thursday, May 16th. HSBC’s payout ratio is presently 63.49%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Farmers National Bank acquired a new stake in HSBC in the 1st quarter valued at about $25,000. Harvest Group Wealth Management LLC acquired a new stake in HSBC in the 1st quarter valued at about $27,000. Berman Capital Advisors LLC acquired a new stake in HSBC in the 4th quarter valued at about $29,000. Vigilant Capital Management LLC acquired a new stake in HSBC in the 1st quarter valued at about $31,000. Finally, Massey Quick Simon & CO. LLC acquired a new stake in HSBC in the 1st quarter valued at about $41,000. Hedge funds and other institutional investors own 2.49% of the company’s stock.

HSBC Company Profile

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

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Analyst Recommendations for HSBC (NYSE:HSBC)

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