HSBC (HSBC) Rating Increased to Overweight at JPMorgan Chase & Co.

HSBC (NYSE:HSBC) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday, The Fly reports.

HSBC has been the subject of a number of other research reports. Credit Suisse Group raised HSBC from an “underperform” rating to a “neutral” rating in a report on Thursday, April 19th. ValuEngine cut HSBC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 3rd. Finally, Zacks Investment Research cut HSBC from a “hold” rating to a “sell” rating in a report on Wednesday, April 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.50.

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Shares of HSBC stock traded down $0.40 during trading on Tuesday, reaching $47.45. 1,196,197 shares of the company’s stock were exchanged, compared to its average volume of 1,667,157. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.96. HSBC has a 1-year low of $46.23 and a 1-year high of $55.89.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Friday, May 4th. The financial services provider reported $0.75 EPS for the quarter. The business had revenue of $13.71 billion for the quarter. sell-side analysts anticipate that HSBC will post 3.7 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jefferies Group LLC increased its holdings in HSBC by 13.6% in the 4th quarter. Jefferies Group LLC now owns 11,072 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 1,327 shares in the last quarter. Cookson Peirce & Co. Inc. increased its holdings in HSBC by 0.6% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 223,230 shares of the financial services provider’s stock worth $10,641,000 after purchasing an additional 1,350 shares in the last quarter. BTC Capital Management Inc. increased its holdings in HSBC by 13.1% in the 1st quarter. BTC Capital Management Inc. now owns 12,963 shares of the financial services provider’s stock worth $620,000 after purchasing an additional 1,503 shares in the last quarter. BB&T Securities LLC increased its holdings in HSBC by 4.5% in the 1st quarter. BB&T Securities LLC now owns 37,889 shares of the financial services provider’s stock worth $1,806,000 after purchasing an additional 1,621 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its holdings in HSBC by 8.7% in the 1st quarter. Checchi Capital Advisers LLC now owns 25,238 shares of the financial services provider’s stock worth $1,203,000 after purchasing an additional 2,011 shares in the last quarter. 2.61% of the stock is owned by institutional investors and hedge funds.

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.

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