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Opinions Jon Vialoux
HSBC Holdings P L CHSBCCOMMENTSep 29, 2017
Jon VialouxStock 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.
Between March 30 and August 10 is the optimal time to be buying and holding this. It has had an average return of about 7.7% over the benchmark, and has been positive in 14 of the past 17 years. This year it had a low of about $39 in April all the way to a high of about $50 just before August, a phenomenal run. We are beyond its period of seasonal strength, but there are still higher highs and higher lows technically. This is not something he would venture into, but would go into other financial companies instead.