HSBC (LON:HSBA) Price Target Raised to GBX 700

HSBC (LON:HSBA) had its price objective lifted by JPMorgan Chase & Co. from GBX 660 ($8.29) to GBX 700 ($8.79) in a research note released on Thursday morning, Marketbeat reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Citigroup restated a buy rating and set a GBX 810 ($10.17) price target on shares of HSBC in a research note on Wednesday, April 10th. Berenberg Bank upped their price target on shares of HSBC from GBX 800 ($10.05) to GBX 830 ($10.43) and gave the company a buy rating in a research note on Tuesday, April 30th. Shore Capital reissued a buy rating on shares of HSBC in a report on Tuesday, April 30th. Finally, Barclays reissued an overweight rating and issued a GBX 800 ($10.05) target price on shares of HSBC in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of GBX 807.65 ($10.15).

HSBC Price Performance

HSBC stock opened at GBX 705.50 ($8.86) on Thursday. The business has a fifty day moving average price of GBX 631.06 and a 200-day moving average price of GBX 619.61. HSBC has a 1-year low of GBX 572.90 ($7.20) and a 1-year high of GBX 714.40 ($8.97). The stock has a market capitalization of £132.85 billion, a price-to-earnings ratio of 766.85, a PEG ratio of 5.18 and a beta of 0.58.

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 given a dividend of $0.31 per share. This represents a yield of 3.7%. The ex-dividend date is Thursday, May 9th. HSBC’s dividend payout ratio is currently 5,326.09%.

Insiders Place Their Bets

In other news, insider Noel Quinn sold 89,546 shares of HSBC 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 transaction of £533,694.16 ($670,385.83). In other news, insider Noel Quinn sold 89,546 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of GBX 596 ($7.49), for a total transaction of £533,694.16 ($670,385.83). Also, insider Georges Elhedery sold 28,719 shares of the stock in a transaction that occurred on 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). Insiders own 0.32% 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.