HSBC (HSBC) Upgraded by Goldman Sachs Group to “Buy”

HSBC (NYSE:HSBC) was upgraded by equities researchers at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, The Fly reports.

Other research analysts have also issued research reports about the company. Credit Suisse Group reiterated a “hold” rating on shares of HSBC in a research report on Friday, February 22nd. Zacks Investment Research lowered HSBC from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 11th. Keefe, Bruyette & Woods lowered HSBC from an “outperform” rating to a “market perform” rating in a research report on Friday, January 25th. Bank of America lowered HSBC from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 19th. Finally, Barclays reiterated a “sell” rating on shares of HSBC in a research report on Tuesday, February 19th. Nine investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Sell” and an average target price of $43.80.

HSBC stock traded up $0.02 during mid-day trading on Wednesday, hitting $41.70. The company had a trading volume of 1,532,661 shares, compared to its average volume of 1,903,694. The company has a current ratio of 0.97, a quick 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 $50.07. The firm has a market cap of $165.92 billion, a PE ratio of 13.24, a P/E/G ratio of 2.55 and a beta of 0.67.

HSBC (NYSE:HSBC) last announced its earnings results on Tuesday, February 19th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.55). The firm had revenue of $12.56 billion during the quarter, compared to analysts’ expectations of $13.90 billion. On average, equities research analysts forecast that HSBC will post 3.73 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farmers National Bank acquired a new position in HSBC in the 1st quarter valued at $25,000. Harvest Group Wealth Management LLC acquired a new position in HSBC in the 1st quarter valued at $27,000. Berman Capital Advisors LLC acquired a new position in HSBC in the 4th quarter valued at $29,000. CWM LLC raised its stake in HSBC by 53.8% in the 4th quarter. CWM LLC now owns 755 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 264 shares during the last quarter. Finally, Vigilant Capital Management LLC acquired a new position in HSBC in the 1st quarter valued at $31,000. 2.46% of the stock is owned by hedge funds and other institutional investors.

About HSBC

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.

See Also: Earnings Reports

The Fly

Analyst Recommendations for HSBC (NYSE:HSBC)

Receive News & Ratings for HSBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HSBC and related companies with MarketBeat.com's FREE daily email newsletter.