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Opinions Mark Grammer
HSBC Holdings P L CHSBCCOMMENTMar 23, 2016
Mark GrammerStock price when the opinion was issued
As of Jun 18, 2026. Market Open.
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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.
Has had so many headwinds that it has been very difficult for them. Have fairly high costs, so their efficiency ratio is not great. It does provide a fairly decent yield of around 5.5%. If you hold this, you have to have a very long time horizon. You need China to be healthy for this stock to work.