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HSBC Holdings P L CHSBCCOMMENTSep 16, 2015Stock price when the opinion was issued
As of Jun 18, 2026. Market Open.
HSBC 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.
This is a conundrum. It should be doing better. Very good management. Has a really good franchise in China, and he thinks that is what has really hurt the stock in the short term. Doesn’t expect to see the stock perform extremely well in the near term. However, it has a dividend that is very secure and yielding over 5%. A pretty safe place to park your money.