Jefferies Financial Group upgraded shares of HSBC (LON:HSBA) to a buy rating in a research report sent to investors on Monday morning, Borsen Zeitung reports. They currently have GBX 790 ($10.32) target price on the financial services provider’s stock, up from their prior target price of GBX 691 ($9.03).
Several other equities analysts have also recently weighed in on the company. Societe Generale reiterated a hold rating on shares of HSBC in a research report on Tuesday, September 10th. Citigroup restated a sell rating on shares of HSBC in a research report on Thursday, November 7th. Morgan Stanley cut HSBC to an underweight rating in a research report on Monday, October 28th. Berenberg Bank cut HSBC to a sell rating and reduced their target price for the stock from GBX 700 ($9.15) to GBX 490 ($6.40) in a research report on Tuesday, November 5th. Finally, Shore Capital cut their price objective on HSBC from GBX 665 ($8.69) to GBX 580 ($7.58) and set a hold rating for the company in a report on Monday, October 28th. Eight analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of GBX 620 ($8.10).
Shares of LON HSBA traded up GBX 5.70 ($0.07) during mid-day trading on Monday, hitting GBX 580.70 ($7.59). The company had a trading volume of 17,269,455 shares, compared to its average volume of 26,590,000. The company has a market capitalization of $115.83 billion and a price-to-earnings ratio of 9.02. HSBC has a 1 year low of GBX 0.78 ($0.01) and a 1 year high of GBX 687.70 ($8.99). The stock’s 50-day moving average price is GBX 599.24 and its 200-day moving average price is GBX 631.21.
The firm also recently declared a dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 10th will be given a dividend of $0.10 per share. This represents a yield of 1.35%. The ex-dividend date is Thursday, October 10th. HSBC’s payout ratio is 0.48%.
In other HSBC news, insider Marc Moses purchased 21,465 shares of the stock in a transaction on Tuesday, August 27th. The stock was acquired at an average price of GBX 586 ($7.66) per share, with a total value of £125,784.90 ($164,360.25).
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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