JPMorgan Chase & Co. Increases HSBC (NYSE:HSBC) Price Target to 500.00

HSBC (NYSE:HSBC) had its price objective boosted by analysts at JPMorgan Chase & Co. from 450.00 to 500.00 in a research report issued to clients and investors on Thursday, The Fly reports.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded HSBC from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Wednesday, December 1st. UBS Group reissued a “buy” rating on shares of HSBC in a research note on Monday, November 1st. Investec lowered HSBC from a “buy” rating to a “hold” rating in a research note on Friday, October 22nd. Royal Bank of Canada reissued an “outperform” rating on shares of HSBC in a research note on Wednesday, October 27th. Finally, Bank of America raised HSBC from a “neutral” rating to a “buy” rating in a research note on Thursday, October 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $265.00.

HSBC opened at $35.35 on Thursday. HSBC has a 12 month low of $24.31 and a 12 month high of $35.38. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $143.55 billion, a P/E ratio of 12.63 and a beta of 0.67. The stock’s 50 day moving average price is $29.96 and its 200 day moving average price is $28.57.

HSBC (NYSE:HSBC) last posted its earnings results on Monday, October 25th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.77 by $0.08. HSBC had a return on equity of 5.51% and a net margin of 23.08%. The firm had revenue of $12.20 billion for the quarter. Equities analysts anticipate that HSBC will post 3.6 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of HSBC. Advisor Group Holdings Inc. raised its holdings in HSBC by 35.3% during the second quarter. Advisor Group Holdings Inc. now owns 21,072 shares of the financial services provider’s stock valued at $609,000 after buying an additional 5,502 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of HSBC by 38.3% in the second quarter. Envestnet Asset Management Inc. now owns 47,416 shares of the financial services provider’s stock worth $1,368,000 after purchasing an additional 13,138 shares during the period. Sei Investments Co. increased its stake in shares of HSBC by 31.7% in the second quarter. Sei Investments Co. now owns 30,881 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 7,437 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of HSBC by 155.0% in the second quarter. BNP Paribas Arbitrage SA now owns 3,471 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 2,110 shares during the period. Finally, SeaBridge Investment Advisors LLC increased its stake in shares of HSBC by 14.9% in the second quarter. SeaBridge Investment Advisors LLC now owns 12,948 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 1,680 shares during the period. Institutional investors own 1.14% of the company’s stock.

HSBC Company Profile

HSBC Holdings plc provides banking and financial products and services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking products and services, such as current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services for ultra high net worth individuals; and wealth management services, including insurance and investment products, global asset management services, investment management, and private wealth solutions.

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