HSBC - HSBC Holdings Q1: Off To A Good Start In 2024
2024-05-02 12:00:53 ET
Summary
- HSBC Holdings plc has done well since I opened on the bank last quarter, with the market's positive response to Q1 results helping power a circa 16% return in that time.
- Earnings remain elevated, with a normalized Q1 return on tangible equity of over 16% leaving the bank well-placed to meet management's 2024 profitability goal.
- With rate cut expectations having been dialed back recently, HSBC Holdings' structural hedge can provide a bigger tailwind to revenue than previously anticipated.
- With the shares trading for around tangible book value, attractive capital returns potential can help power good medium-term returns from here.
Shares of Asian-British banking giant HSBC Holdings plc (HSBC) have done well since my opening piece in March, with the market's positive response to Q1 results contributing to a circa 16% return in that time....
HSBC Holdings Q1: Off To A Good Start In 2024