Citigroup Reaffirms “Buy” Rating for HSBC (HSBA)
Other equities analysts also recently issued reports about the stock. Jefferies Group initiated coverage on shares of HSBC in a research report on Monday, September 4th. They set a buy rating and a GBX 920 ($12.32) target price on the stock. Morgan Stanley set a GBX 850 ($11.38) target price on shares of HSBC and gave the stock a buy rating in a research report on Thursday, October 5th. BNP Paribas set a GBX 825 ($11.05) target price on shares of HSBC and gave the stock a buy rating in a research report on Thursday, October 5th. Societe Generale reissued a buy rating on shares of HSBC in a research report on Monday, October 23rd. Finally, Barclays increased their target price on shares of HSBC from GBX 650 ($8.70) to GBX 700 ($9.37) and gave the stock an equal weight rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of GBX 746.33 ($10.00).
HSBC (LON HSBA) traded down GBX 2.10 ($0.03) during trading on Wednesday, reaching GBX 731.90 ($9.80). 23,750,000 shares of the company’s stock traded hands, compared to its average volume of 23,730,000. HSBC has a 52-week low of GBX 518.17 ($6.94) and a 52-week high of GBX 772 ($10.34).
In related news, insider Douglas J. Flint bought 58 shares of HSBC stock in a transaction that occurred on Wednesday, September 20th. The stock was acquired at an average price of GBX 724 ($9.70) per share, for a total transaction of £419.92 ($562.37). Also, insider Iain Mackay bought 16,980 shares of HSBC stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average price of GBX 741 ($9.92) per share, with a total value of £125,821.80 ($168,503.82). In the last quarter, insiders purchased 17,058 shares of company stock valued at $12,638,772.
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HSBC Company Profile
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.
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