HSBC stock enters October results after KBW rating cut

Published on 09/28/2026 at 11:46 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

HSBC stock heads into its October 27, 2026 results after Q2 earnings per share reached USD 2.25 versus USD 2.24 consensus. KBW set a GBp 1,620 target.

Skyline eines globalen Finanzzentrums bei Sonnenuntergang mit beleuchteten Bürotürmen — HSBC Holdings plc (ISIN GB0005405286) verbindet als globale Bank Finanzzentren wie Hongkong und London, Illustration mit AI erstellt.

HSBC (ISIN GB0005405286) was quoted at GBp 1,512.20 on the LSE as of September 28, 2026. The investor calendar lists the bank's Q3 2026 earnings release for October 27, 2026, according to HSBC.

October results set the next test

The scheduled October report gives investors a defined checkpoint after the quarter reported on August 4, 2026. HSBC posted earnings per share of USD 2.25 for Q2 2026, above the USD 2.24 consensus, while revenue reached USD 19.04 billion against USD 18.66 billion expected, MarketBeat reported on September 15, 2026.

The earnings comparison matters because the upcoming release will show whether that narrow EPS beat developed into broader operating progress. HSBC's Q2 net income was USD 7.927 billion and its net profit margin was 42 percent for the period ended June 30, 2026.

KBW raises target but cuts rating

Keefe, Bruyette & Woods cut HSBC from outperform to market perform on September 14, 2026, while raising its price target from GBp 1,500 to GBp 1,620, according to Morningstar. The new target stands 7.13 percent above the September 28 price.

That combination sends a mixed valuation signal: the higher target recognizes additional upside, but the rating change puts more weight on the price already reflected in the shares. A separate September 3 report said Shore Capital retained a sell rating and a GBp 1,335 target, according to Yahoo Finance.

HSBC stock stays tied to results

HSBC's reference price was GBp 1,512.20 on the LSE on September 28, 2026. The October 27 results date, the Q2 EPS beat and the split analyst signals give the stock three concrete checkpoints before the next earnings release.