HSBC (HSBA) Earns “Underperform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their underperform rating on shares of HSBC (LON:HSBA) in a research report report published on Monday. The firm currently has a GBX 560 ($7.32) price target on the financial services provider’s stock.

Several other brokerages have also commented on HSBA. Barclays set a GBX 740 ($9.67) target price on HSBC and gave the company a neutral rating in a research report on Tuesday, August 7th. JPMorgan Chase & Co. cut their price target on HSBC from GBX 780 ($10.19) to GBX 750 ($9.80) and set a neutral rating on the stock in a report on Tuesday, October 16th. Deutsche Bank set a GBX 720 ($9.41) price target on HSBC and gave the stock a neutral rating in a report on Tuesday, September 18th. UBS Group reiterated a neutral rating and issued a GBX 650 ($8.49) price target (down previously from GBX 750 ($9.80)) on shares of HSBC in a report on Wednesday, October 17th. Finally, Morgan Stanley set a GBX 855 ($11.17) price target on HSBC and gave the stock a buy rating in a report on Tuesday, August 14th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. HSBC has a consensus rating of Hold and an average price target of GBX 719.86 ($9.41).

Shares of HSBC stock traded up GBX 11.10 ($0.15) on Monday, hitting GBX 649.90 ($8.49). 11,870,824 shares of the company’s stock traded hands, compared to its average volume of 26,590,000. HSBC has a one year low of GBX 618 ($8.08) and a one year high of GBX 798.60 ($10.44).

The company also recently declared a dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Thursday, October 11th will be issued a $0.10 dividend. The ex-dividend date is Thursday, October 11th. This represents a yield of 1.16%.

In other HSBC news, insider Iain Mackay sold 24,021 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of GBX 657 ($8.58), for a total value of £157,817.97 ($206,217.13).

HSBC Company Profile

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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Analyst Recommendations for HSBC (LON:HSBA)

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