HSBC Holdings P L C

HSBC-N

NYSE:HSBC

23.05
0.54 (2.29%)
HSBC Holdings plc is a British multinational banking and financial services holding company, tracing its origin to a hong in Hong Kong.
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Analysis and Opinions about HSBC-N

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
December 31, 2018
vs. Wells Fargo Used to own it, but they kept stepping on their own toes. He shifted that money to US banks (not Wells Fargo). HSBC tried to shrink to grow, but that strategy didn't work. WF you have to look at with a longer time horizon. Even a Canadian or another US bank is better to own.
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vs. Wells Fargo Used to own it, but they kept stepping on their own toes. He shifted that money to US banks (not Wells Fargo). HSBC tried to shrink to grow, but that strategy didn't work. WF you have to look at with a longer time horizon. Even a Canadian or another US bank is better to own.
PAST TOP PICK
PAST TOP PICK
November 8, 2018
(A Top Pick Oct 13/17, Down 15%) The franchise is still good. The fact that they have operations in Europe and Asia affected them from a fund flow perspective. This is a solid bank.
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(A Top Pick Oct 13/17, Down 15%) The franchise is still good. The fact that they have operations in Europe and Asia affected them from a fund flow perspective. This is a solid bank.
WEAK BUY
WEAK BUY
October 17, 2018

It's low now, so he'd lean into buying it now. All European financials have suffered. He sold his shares years ago. It's one of the biggest banks on the planet with strong exposure to Asia. It will be in better shape next year. Pays a 6% dividend

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It's low now, so he'd lean into buying it now. All European financials have suffered. He sold his shares years ago. It's one of the biggest banks on the planet with strong exposure to Asia. It will be in better shape next year. Pays a 6% dividend

DON'T BUY
DON'T BUY
September 12, 2018

This company has substantial emerging market exposure, where there is growing pain economically – like Greece, Spain, etc. He would stay away. If you want bank exposure, he would recommend the US ones. Where there is growing pain economically – like Greece, Spain, etc. He would stay away.

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HSBC Holdings P L C (HSBC-N)
September 12, 2018

This company has substantial emerging market exposure, where there is growing pain economically – like Greece, Spain, etc. He would stay away. If you want bank exposure, he would recommend the US ones. Where there is growing pain economically – like Greece, Spain, etc. He would stay away.

TOP PICK
TOP PICK
September 11, 2018

Trump has made this trade off for no good reason. 40% of earnings come out of Europe where the economy is doing fine. Great balance sheet. They'll likely raise the dividend. Another 40% of earnings come out of Hong Kong which is pegged to US interest rates, which in turn will rise. A great global franchise. Smart management. Attractive at these levels. (6% dividend, Analysts' price target: HK$79.63)

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HSBC Holdings P L C (HSBC-N)
September 11, 2018

Trump has made this trade off for no good reason. 40% of earnings come out of Europe where the economy is doing fine. Great balance sheet. They'll likely raise the dividend. Another 40% of earnings come out of Hong Kong which is pegged to US interest rates, which in turn will rise. A great global franchise. Smart management. Attractive at these levels. (6% dividend, Analysts' price target: HK$79.63)

BUY
BUY
July 31, 2018

After the global financial crisis, all banks under-earned because interest rates came down so far. As interest rates come back up, financials are starting to approach their historical earnings range. Banks in the US and Canada are leaders in this pack. European banks are a bit behind. 40% of HSBC’s business is in Europe, which has yet to see higher interest rates. 40% is in Hong Kong, which is the booking point for Asian business. Because the Hong Kong dollar is pegged to the US dollar, this part of HSBC’s business is pegged to the US interest rate cycle. Higher interest rates in the US are good for HSBC in Asia. He thinks the global banks are undervalued, and are good buys, especially for people with a multi-year horizon. This is not a good trade for 3-to-6 months but he thinks it will do well for someone willing to hold it for 3-to-5 years.

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After the global financial crisis, all banks under-earned because interest rates came down so far. As interest rates come back up, financials are starting to approach their historical earnings range. Banks in the US and Canada are leaders in this pack. European banks are a bit behind. 40% of HSBC’s business is in Europe, which has yet to see higher interest rates. 40% is in Hong Kong, which is the booking point for Asian business. Because the Hong Kong dollar is pegged to the US dollar, this part of HSBC’s business is pegged to the US interest rate cycle. Higher interest rates in the US are good for HSBC in Asia. He thinks the global banks are undervalued, and are good buys, especially for people with a multi-year horizon. This is not a good trade for 3-to-6 months but he thinks it will do well for someone willing to hold it for 3-to-5 years.

SELL STRENGTH
SELL STRENGTH
February 23, 2018

He has problems with this company due to regulatory concerns. A lot of European banks have not been properly recapitalized, may have high leverage, and the balance sheets may be impaired. He would take profit and re-invest in North American banks. Yield 4.5%.

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He has problems with this company due to regulatory concerns. A lot of European banks have not been properly recapitalized, may have high leverage, and the balance sheets may be impaired. He would take profit and re-invest in North American banks. Yield 4.5%.

DON'T BUY
DON'T BUY
January 30, 2018

He doesn't like this one. The dividend is secure. It’s a massive behemoth bank, but has been struggling to drive earnings growth for years. There's been no organic growth. They may have to make an acquisition, but acquisitions are not cheap these days. If you want to own banks, you are better off owning Goldman Sachs (GS-N) or Morgan Stanley (MA-N). There are better investments elsewhere.

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He doesn't like this one. The dividend is secure. It’s a massive behemoth bank, but has been struggling to drive earnings growth for years. There's been no organic growth. They may have to make an acquisition, but acquisitions are not cheap these days. If you want to own banks, you are better off owning Goldman Sachs (GS-N) or Morgan Stanley (MA-N). There are better investments elsewhere.

TOP PICK
TOP PICK
January 22, 2018

50-60% Hong Kong plus international. Over a 5% dividend. You get 10% plus the dividend for a few years. You get diversified away from North America. (Analysts’ target: $43.96).

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50-60% Hong Kong plus international. Over a 5% dividend. You get 10% plus the dividend for a few years. You get diversified away from North America. (Analysts’ target: $43.96).

COMMENT
COMMENT
December 20, 2017

This has 2 major franchises. There is the European, but the largest franchise in terms of earnings is Hong Kong. Hong Kong rates are pegged to the US rates. There is also the insurance business as well as a number of other things. Balance sheet is very good and he sees good upside here.

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This has 2 major franchises. There is the European, but the largest franchise in terms of earnings is Hong Kong. Hong Kong rates are pegged to the US rates. There is also the insurance business as well as a number of other things. Balance sheet is very good and he sees good upside here.

BUY
BUY
November 22, 2017

One of the big drivers is Asia. The headquarters for the Asian business is in Hong Kong. Hong Kong interest rates are pegged to the US interest rates. When the US raises interest rates, so does Hong Kong. You have a high growth region where money is sloshing over the border from China and into loans, so there is a lot of growth here. The British portion will right itself so that is good. There is an opportunity to grow the insurance business as well. Global recovery is going to be good for this bank. A good, safe way to play multiple jurisdictions.

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One of the big drivers is Asia. The headquarters for the Asian business is in Hong Kong. Hong Kong interest rates are pegged to the US interest rates. When the US raises interest rates, so does Hong Kong. You have a high growth region where money is sloshing over the border from China and into loans, so there is a lot of growth here. The British portion will right itself so that is good. There is an opportunity to grow the insurance business as well. Global recovery is going to be good for this bank. A good, safe way to play multiple jurisdictions.

BUY
BUY
November 20, 2017

It is a global bank, exposed to China, North America and the UK. They are doing extraordinarily well in Asia. They are very well placed for changes in banking in China. He expects them to do well there. We will see a new CEO coming in and it will be interesting to see what he does with the bank going forward. It is a safe investment at these levels.

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It is a global bank, exposed to China, North America and the UK. They are doing extraordinarily well in Asia. They are very well placed for changes in banking in China. He expects them to do well there. We will see a new CEO coming in and it will be interesting to see what he does with the bank going forward. It is a safe investment at these levels.

DON'T BUY
DON'T BUY
October 30, 2017

HSBC-Q vs. AMTD-Q. The TD business is a better long term holding than HSBC. They have been benefiting from the globalization of China but have not been investing long term in their regional offices. TD has a growth opportunity with independent advisors. It is a better long term risk reward.

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HSBC-Q vs. AMTD-Q. The TD business is a better long term holding than HSBC. They have been benefiting from the globalization of China but have not been investing long term in their regional offices. TD has a growth opportunity with independent advisors. It is a better long term risk reward.

TOP PICK
TOP PICK
October 13, 2017

Thinks it has a discount from BREXIT on it, but is very exposed to Asia, which is a real growth driver. Its key market is based in Hong Kong, which is pegged to the US$, giving US leverage on the interest rate rise. It has a China credit card business, which is new, because China is a closed credit card market. Has a very attractive dividend. It will benefit from rising interest rates as Net Interest Margin, a critical driver of buying profitability, will need to rise by 70% to reach pre- crisis levels. (Analysts’ price target is $41.22.)

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Thinks it has a discount from BREXIT on it, but is very exposed to Asia, which is a real growth driver. Its key market is based in Hong Kong, which is pegged to the US$, giving US leverage on the interest rate rise. It has a China credit card business, which is new, because China is a closed credit card market. Has a very attractive dividend. It will benefit from rising interest rates as Net Interest Margin, a critical driver of buying profitability, will need to rise by 70% to reach pre- crisis levels. (Analysts’ price target is $41.22.)

COMMENT
COMMENT
October 3, 2017

A huge global bank. Have had some difficulties with world authorities about money laundering, and were implicated on a big scale. He was told that they have cleaned up their act, but as an outsider, it is impossible to know. One of the most widely held non-North American banks you can buy.

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A huge global bank. Have had some difficulties with world authorities about money laundering, and were implicated on a big scale. He was told that they have cleaned up their act, but as an outsider, it is impossible to know. One of the most widely held non-North American banks you can buy.

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