HSBC: A Strong Start To 2025 As Trade Fears Mount
Summary
- Like most banks, shares of HSBC have been pretty volatile since my last update in February, albeit they have recovered nearly all of their lost ground.
- The bank is off to a good start to 2025, with both revenue and profits coming in higher than expected.
- While tariff-related uncertainty could affect both revenue and credit charges, HSBC can absorb headwinds from both while remaining nicely profitable.
- The stock currently trades for a little under 1.3x tangible book value, which looks cheap based on the bank's earnings power.
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