Deutsche Bank set a GBX 684 ($8.94) price target on HSBC (LON:HSBA) in a report published on Friday morning. The brokerage currently has a neutral rating on the financial services provider’s stock.
Other research analysts have also issued reports about the company. Morgan Stanley set a GBX 855 ($11.17) price target on HSBC and gave the company a buy rating in a report on Tuesday, August 14th. Citigroup reissued a buy rating on shares of HSBC in a report on Wednesday, September 5th. Berenberg Bank reissued a hold rating and set a GBX 680 ($8.89) price target on shares of HSBC in a report on Monday, July 23rd. Societe Generale lowered HSBC to a hold rating in a report on Monday, September 10th. Finally, UBS Group lifted their target price on HSBC from GBX 735 ($9.60) to GBX 750 ($9.80) and gave the stock a neutral rating in a report on Tuesday, August 14th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of GBX 757.79 ($9.90).
Shares of HSBA traded down GBX 1.20 ($0.02) during trading hours on Friday, reaching GBX 628.90 ($8.22). 41,619,198 shares of the company’s stock traded hands, compared to its average volume of 26,590,000. HSBC has a twelve month low of GBX 618 ($8.08) and a twelve month high of GBX 798.60 ($10.44).
The company also recently announced a dividend, which will be paid on Wednesday, November 21st. Investors of record on Thursday, October 11th will be issued a dividend of $0.10 per share. This represents a yield of 1.16%. The ex-dividend date is Thursday, October 11th.
In related news, insider Iain Mackay sold 24,021 shares of HSBC stock in a transaction dated Friday, September 14th. The stock was sold at an average price of GBX 657 ($8.58), for a total transaction of £157,817.97 ($206,217.13).
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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