Today, HSBC Holdings PLC (HSBC) Stock Rating Upgrade by Sanford C. Bernstein

Today, HSBC Holdings PLC (HSBC) Stock Rating Upgrade by Sanford C. Bernstein
Sanford C. Bernstein upgraded shares of HSBC Holdings PLC (NYSE:HSBC) from an underperform rating to a hold rating in a report published on Monday morning. Sanford C. Bernstein currently has $31.00 price objective on the stock.

Several other equities research analysts also recently commented on HSBC. Bank of America Corp. upgraded HSBC Holdings PLC from a neutral rating to a buy rating in a report on Thursday, August 4th. Beaufort Securities restated a buy rating on shares of HSBC Holdings PLC in a report on Friday, August 5th. Vetr downgraded HSBC Holdings PLC from a strong-buy rating to a buy rating and set a $36.48 price objective for the company. in a report on Wednesday, August 10th. Investec restated a buy rating on shares of HSBC Holdings PLC in a report on Friday, August 26th. Finally, Zacks Investment Research upgraded HSBC Holdings PLC from a sell rating to a hold rating in a report on Tuesday, August 30th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $30.16.

Shares of HSBC Holdings PLC (NYSE:HSBC) opened at 39.91 on Monday. The firm’s 50-day moving average price is $38.34 and its 200 day moving average price is $34.94. HSBC Holdings PLC has a one year low of $28.62 and a one year high of $40.74. The firm has a market cap of $54.28 billion, a P/E ratio of 39.32 and a beta of 1.09.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Friday, October 21st will be given a $0.50 dividend. The ex-dividend date is Wednesday, October 19th. This represents a $2.00 annualized dividend and a yield of 5.01%. HSBC Holdings PLC’s dividend payout ratio is currently 81.63%.

A number of hedge funds and other institutional investors have recently bought and sold shares of HSBC. Segantii Capital Management Ltd boosted its position in HSBC Holdings PLC by 1,894.7% in the third quarter. Segantii Capital Management Ltd now owns 1,052,829 shares of the company’s stock valued at $38,805,000 after buying an additional 1,000,047 shares in the last quarter. Cambiar Investors LLC boosted its position in shares of HSBC Holdings PLC by 11.8% in the second quarter. Cambiar Investors LLC now owns 4,983,252 shares of the company’s stock worth $156,026,000 after buying an additional 524,371 shares in the last quarter. FMR LLC boosted its position in shares of HSBC Holdings PLC by 7.4% in the second quarter. FMR LLC now owns 7,040,122 shares of the company’s stock worth $220,426,000 after buying an additional 487,099 shares in the last quarter. Bailard Inc. purchased a new position in shares of HSBC Holdings PLC during the third quarter worth approximately $3,007,000. Finally, Aperio Group LLC boosted its position in shares of HSBC Holdings PLC by 34.2% in the third quarter. Aperio Group LLC now owns 1,346,027 shares of the company’s stock worth $50,624,000 after buying an additional 342,786 shares in the last quarter. 2.27% of the stock is currently owned by institutional investors and hedge funds.

HSBC Holdings PLC Company Profile

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