Zacks Investment Research upgraded shares of HSBC (NYSE:HSBC) from a hold rating to a strong-buy rating in a research report released on Tuesday. They currently have $47.00 price target on the financial services provider’s stock.

According to Zacks, “Shares of HSBC have underperformed the industry on the NYSE in the past six months. Estimates have been stable lately ahead of the company's fourth quarter 2018 earnings release. The company is undertaking initiatives to improve its market share in the U.K. and China as well as strengthen digital capabilities globally. These efforts are expected to increase its exposure in emerging markets. Given a solid capital position, the company is expected to continue enhancing shareholder value through efficient capital deployment activities. However, dismal European economic growth, weak loan demand and Brexit-related concerns are expected to continue leading to muted revenues.”

A number of other brokerages have also commented on HSBC. Royal Bank of Canada lowered shares of HSBC from a sector perform rating to an underperform rating in a research note on Tuesday, October 23rd. ValuEngine upgraded shares of HSBC from a sell rating to a hold rating in a research note on Tuesday, December 25th. Keefe, Bruyette & Woods upgraded shares of HSBC from a market perform rating to an outperform rating in a research note on Tuesday, September 11th. Credit Suisse Group upgraded shares of HSBC from an underperform rating to a neutral rating in a research note on Thursday, September 20th. Finally, Citigroup lowered shares of HSBC from a neutral rating to a sell rating in a research note on Friday, January 4th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $47.00.

HSBC stock traded down $0.12 during midday trading on Tuesday, reaching $41.41. 105,668 shares of the company’s stock traded hands, compared to its average volume of 2,283,147. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.96 and a current ratio of 0.96. HSBC has a 52 week low of $38.23 and a 52 week high of $55.89.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Monday, October 29th. The financial services provider reported $0.95 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.95. The business had revenue of $13.84 billion for the quarter. As a group, analysts predict that HSBC will post 3.76 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hilltop Holdings Inc. bought a new stake in shares of HSBC in the 2nd quarter worth $214,000. Bogart Wealth LLC grew its stake in shares of HSBC by 10.4% in the 3rd quarter. Bogart Wealth LLC now owns 43,440 shares of the financial services provider’s stock worth $1,911,000 after acquiring an additional 4,075 shares in the last quarter. Whittier Trust Co. grew its stake in shares of HSBC by 26.0% in the 3rd quarter. Whittier Trust Co. now owns 10,843 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 2,239 shares in the last quarter. Moody National Bank Trust Division grew its stake in shares of HSBC by 5.8% in the 4th quarter. Moody National Bank Trust Division now owns 13,542 shares of the financial services provider’s stock worth $557,000 after acquiring an additional 742 shares in the last quarter. Finally, Raymond James Trust N.A. grew its stake in shares of HSBC by 20.0% in the 3rd quarter. Raymond James Trust N.A. now owns 8,453 shares of the financial services provider’s stock worth $372,000 after acquiring an additional 1,411 shares in the last quarter. Hedge funds and other institutional investors own 2.53% of the company’s stock.

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.

Further Reading: Institutional Investors

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