HSBC’s (HSBA) Equal Weight Rating Reaffirmed at Barclays

Barclays restated their equal weight rating on shares of HSBC (LON:HSBA) in a research note released on Tuesday. Barclays currently has a GBX 740 ($9.67) price objective on the financial services provider’s stock, up from their prior price objective of GBX 700 ($9.15).

HSBA has been the topic of a number of other research reports. Deutsche Bank set a GBX 720 ($9.41) price objective on HSBC and gave the stock a neutral rating in a research note on Tuesday, July 10th. JPMorgan Chase & Co. set a GBX 780 ($10.19) price objective on HSBC and gave the stock a neutral rating in a research note on Wednesday, July 11th. Royal Bank of Canada lowered HSBC to an underperform rating and lowered their price objective for the stock from GBX 730 ($9.54) to GBX 560 ($7.32) in a research note on Tuesday, October 23rd. Shore Capital restated a hold rating on shares of HSBC in a research note on Monday, October 29th. Finally, Citigroup restated a buy rating on shares of HSBC in a research note on Wednesday, September 5th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. HSBC presently has a consensus rating of Hold and an average price target of GBX 719.86 ($9.41).

LON:HSBA opened at GBX 646.10 ($8.44) on Tuesday. HSBC has a 1-year low of GBX 618 ($8.08) and a 1-year high of GBX 798.60 ($10.44).

The business also recently announced a dividend, which will be paid on Wednesday, November 21st. Shareholders 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 of this dividend is Thursday, October 11th.

In other HSBC 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 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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