Summer Sale
50% off Premium Yearly
Opinions Lorne Steinberg
HSBC Holdings P L CHSBCCOMMENTAug 18, 2014
Stock price when the opinion was issued
As of Jun 18, 2026. Market Open.
You might be interested:
Darren SissonsDarren Sissons
Darren SissonsHSBC vs. ING. HSBC is a global bank, strong in Asia and the UK. ING is already restructured, more of a retail bank. Neither is expensive. But you can buy US banks at cheap multiples today. US banks are in better shape, more capital, fewer issues to worry about like negative interest rates. (Analysts’ price target is $45.90)
ING vs. HSBC Neither. He won't touch any European bank given negative interest rates. Period. HSBC does a lot of international lending and international flows aren't well-received by regulators; and they lend to the Far East. HSBC isn't a leader in many categories. ING, at least, leads in online banking in Europe, but they have loaned heavily to energy.
These all struggled during the financial crisis. This has struggled probably less than the European and foreign banks. This bank has a great position in Asia. Despite Asia’s issues at the present time for the growth rate is slowing, it is extremely well-positioned for the long haul. His entry point for the stock would be in the low $40’s. He is seeing better value in European financials and European banks.