HSBC (LON:HSBA) Receives “Buy” Rating from Shore Capital

Shore Capital reaffirmed their buy rating on shares of HSBC (LON:HSBA) in a report published on Tuesday, MarketBeat Ratings reports.

A number of other equities analysts have also issued reports on HSBA. Citigroup reaffirmed a buy rating and set a GBX 810 ($10.17) price target on shares of HSBC in a research note on Wednesday, April 10th. JPMorgan Chase & Co. raised their target price on HSBC from GBX 600 ($7.54) to GBX 660 ($8.29) and gave the company a neutral rating in a research note on Thursday, April 11th. Barclays reaffirmed an overweight rating and set a GBX 800 ($10.05) target price on shares of HSBC in a report on Thursday, February 29th. Finally, Berenberg Bank cut their price target on shares of HSBC from GBX 820 ($10.30) to GBX 800 ($10.05) and set a buy rating for the company in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of GBX 822.94 ($10.34).

HSBC Price Performance

LON HSBA opened at GBX 699.50 ($8.79) on Tuesday. HSBC has a 12 month low of GBX 572.90 ($7.20) and a 12 month high of GBX 702.50 ($8.82). The firm has a market capitalization of £132.14 billion, a PE ratio of 764.40, a P/E/G ratio of 0.45 and a beta of 0.58. The company’s 50 day simple moving average is GBX 624.45 and its 200 day simple moving average is GBX 618.53.

HSBC Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, June 21st. Investors of record on Thursday, May 9th will be paid a $0.31 dividend. The ex-dividend date is Thursday, May 9th. This represents a yield of 3.7%. HSBC’s dividend payout ratio is currently 5,274.73%.

Insider Buying and Selling at HSBC

In related news, insider Noel Quinn sold 89,546 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of GBX 596 ($7.49), for a total value of £533,694.16 ($670,385.83). In other news, insider Georges Elhedery sold 28,719 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.41), for a total value of £169,442.10 ($212,840.22). Also, insider Noel Quinn sold 89,546 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of GBX 596 ($7.49), for a total transaction of £533,694.16 ($670,385.83). Insiders own 0.36% of the company’s stock.

HSBC Company Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.