HSBC (NYSE:HSBC) Lowered to Hold Rating by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft lowered shares of HSBC (NYSE:HSBC) from a buy rating to a hold rating in a research note published on Monday, Marketbeat.com reports.

HSBC Stock Performance

HSBC stock opened at $51.31 on Monday. The firm has a market cap of $183.76 billion, a P/E ratio of 8.48, a P/E/G ratio of 1.39 and a beta of 0.54. The stock’s 50 day simple moving average is $49.18 and its 200 day simple moving average is $45.93. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. HSBC has a 12-month low of $36.93 and a 12-month high of $52.99.

Institutional Investors Weigh In On HSBC

Several institutional investors and hedge funds have recently bought and sold shares of HSBC. Mediolanum International Funds Ltd bought a new position in shares of HSBC during the third quarter valued at approximately $139,895,000. FMR LLC grew its stake in HSBC by 44.3% during the 3rd quarter. FMR LLC now owns 2,442,205 shares of the financial services provider’s stock worth $110,363,000 after buying an additional 749,759 shares during the last quarter. Janney Capital Management LLC acquired a new stake in HSBC in the fourth quarter worth $9,306,000. International Assets Investment Management LLC acquired a new position in shares of HSBC during the third quarter valued at $54,770,000. Finally, Bank of Montreal Can grew its position in shares of HSBC by 124.3% during the third quarter. Bank of Montreal Can now owns 171,416 shares of the financial services provider’s stock worth $7,820,000 after acquiring an additional 94,991 shares during the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

About HSBC

HSBC Holdings plc provides banking and financial 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 and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.