JPMorgan Chase & Co. restated their underweight rating on shares of HSBC (LON:HSBA) in a research report sent to investors on Tuesday morning, Borsen Zeitung reports. The firm currently has a GBX 620 ($8.10) target price on the financial services provider’s stock.
Several other equities research analysts have also recently weighed in on HSBA. Goldman Sachs Group set a GBX 890 ($11.63) target price on HSBC and gave the stock a buy rating in a research note on Thursday, September 12th. UBS Group restated a neutral rating and set a GBX 633 ($8.27) target price on shares of HSBC in a research note on Monday, August 5th. Credit Suisse Group set a GBX 680 ($8.89) target price on HSBC and gave the stock a neutral rating in a research note on Tuesday, August 6th. Societe Generale restated a hold rating on shares of HSBC in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada cut their target price on HSBC from GBX 600 ($7.84) to GBX 580 ($7.58) and set an underperform rating for the company in a research note on Thursday, August 29th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. HSBC currently has an average rating of Hold and a consensus price target of GBX 655.60 ($8.57).
LON HSBA opened at GBX 615.60 ($8.04) on Tuesday. The business has a fifty day moving average price of GBX 615.25 and a two-hundred day moving average price of GBX 640.93. HSBC has a fifty-two week low of GBX 6.30 ($0.08) and a fifty-two week high of GBX 687.70 ($8.99). The stock has a market capitalization of $124.12 billion and a PE ratio of 8.91.
The company also recently declared a dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, August 15th will be paid a $0.10 dividend. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 15th. HSBC’s payout ratio is 0.46%.
In other news, insider Marc Moses purchased 21,465 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of GBX 586 ($7.66) per share, for a total transaction of £125,784.90 ($164,360.25).
HSBC Company Profile
HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.
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