HSBC (NYSE:HSBC) Price Target Raised to GBX 780

HSBC (NYSE:HSBCGet Rating) had its target price hoisted by Barclays from GBX 720 ($8.82) to GBX 780 ($9.56) in a research note published on Tuesday, The Fly reports.

Other research analysts also recently issued research reports about the company. Redburn Partners raised HSBC from a neutral rating to a buy rating in a report on Friday, June 24th. Investec upgraded shares of HSBC from a hold rating to a buy rating in a research report on Wednesday, June 15th. Morgan Stanley upped their price objective on HSBC from GBX 590 ($7.23) to GBX 624 ($7.65) in a research note on Wednesday, July 6th. JPMorgan Chase & Co. boosted their price target on HSBC from GBX 540 ($6.62) to GBX 550 ($6.74) in a report on Thursday, May 19th. Finally, Credit Suisse Group boosted their price objective on HSBC from GBX 525 ($6.43) to GBX 575 ($7.05) in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, HSBC presently has an average rating of Moderate Buy and a consensus price target of $609.86.

HSBC Trading Up 0.3 %

NYSE:HSBC opened at $32.81 on Tuesday. The company has a market cap of $133.96 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 0.49 and a beta of 0.51. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a 50 day simple moving average of $32.08 and a two-hundred day simple moving average of $33.17. HSBC has a 12 month low of $24.31 and a 12 month high of $38.61.

HSBC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, August 19th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.80 annualized dividend and a yield of 5.49%. HSBC’s payout ratio is 37.02%.

Institutional Investors Weigh In On HSBC

Several institutional investors and hedge funds have recently modified their holdings of HSBC. EverSource Wealth Advisors LLC increased its holdings in HSBC by 229.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 826 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 575 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of HSBC by 276.7% in the second quarter. Hexagon Capital Partners LLC now owns 855 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 628 shares during the last quarter. JFS Wealth Advisors LLC lifted its position in shares of HSBC by 352.4% in the first quarter. JFS Wealth Advisors LLC now owns 1,054 shares of the financial services provider’s stock worth $36,000 after buying an additional 821 shares in the last quarter. Spire Wealth Management grew its holdings in HSBC by 74.6% during the 2nd quarter. Spire Wealth Management now owns 1,170 shares of the financial services provider’s stock valued at $38,000 after buying an additional 500 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its stake in HSBC by 31.3% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,312 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 313 shares during the last quarter. Institutional investors own 1.14% of the company’s stock.

HSBC Company Profile

(Get Rating)

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.

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