HSBC (HSBC) Cut to “Hold” at Societe Generale

HSBC (NYSE:HSBC) was downgraded by Societe Generale from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Other equities analysts have also issued research reports about the stock. Morgan Stanley reissued a “buy” rating on shares of HSBC in a report on Tuesday, February 13th. ValuEngine raised shares of HSBC from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub raised shares of HSBC from a “sell” rating to a “hold” rating in a report on Saturday, November 11th. Santander raised shares of HSBC from a “sell” rating to a “hold” rating in a report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of HSBC in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. HSBC has a consensus rating of “Hold” and a consensus price target of $31.50.

HSBC (HSBC) opened at $52.02 on Wednesday. The company has a market cap of $215,270.97, a price-to-earnings ratio of 37.16, a PEG ratio of 2.46 and a beta of 0.90. HSBC has a twelve month low of $39.63 and a twelve month high of $55.89. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.30.

Several hedge funds have recently added to or reduced their stakes in HSBC. Harding Loevner LP grew its holdings in shares of HSBC by 4,384.0% during the 3rd quarter. Harding Loevner LP now owns 98,112,785 shares of the financial services provider’s stock valued at $17,392,000 after purchasing an additional 95,924,743 shares during the last quarter. Miller Howard Investments Inc. NY purchased a new stake in HSBC during the 4th quarter valued at $74,026,000. Fisher Asset Management LLC boosted its position in HSBC by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 14,236,686 shares of the financial services provider’s stock valued at $735,182,000 after buying an additional 411,768 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in HSBC during the 3rd quarter valued at $19,699,000. Finally, Renaissance Technologies LLC boosted its position in HSBC by 279.9% during the 4th quarter. Renaissance Technologies LLC now owns 421,400 shares of the financial services provider’s stock valued at $21,761,000 after buying an additional 310,464 shares during the period. 2.24% of the stock is currently owned by institutional investors.

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HSBC Company Profile

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.

Analyst Recommendations for HSBC (NYSE:HSBC)

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