HSBC (LON:HSBA) PT Raised to GBX 870

HSBC (LON:HSBA) had its target price raised by Berenberg Bank from GBX 830 ($10.68) to GBX 870 ($11.19) in a research report report published on Wednesday morning, Marketbeat.com reports. Berenberg Bank currently has a buy rating on the financial services provider’s stock.

HSBA has been the subject of a number of other research reports. Shore Capital reiterated a buy rating on shares of HSBC in a report on Tuesday, April 30th. JPMorgan Chase & Co. lifted their target price on HSBC from GBX 660 ($8.49) to GBX 700 ($9.00) and gave the company a neutral rating in a research report on Thursday, May 2nd. Finally, Citigroup reaffirmed a top pick rating on shares of HSBC in a research report on Monday, July 8th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, HSBC has an average rating of Moderate Buy and a consensus target price of GBX 800 ($10.29).

HSBC Stock Down 3.4 %

Shares of HSBA stock opened at GBX 636.30 ($8.18) on Wednesday. HSBC has a 12-month low of GBX 572.90 ($7.37) and a 12-month high of GBX 725.20 ($9.33). The firm has a fifty day moving average of GBX 679.30 and a 200-day moving average of GBX 651.44. The company has a market capitalization of £119.37 billion, a price-to-earnings ratio of 699.23, a P/E/G ratio of 5.15 and a beta of 0.56.

HSBC Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, August 15th will be paid a $0.10 dividend. The ex-dividend date is Thursday, August 15th. This represents a yield of 1.15%. HSBC’s dividend payout ratio is 5,384.62%.

Insider Transactions at HSBC

In other news, insider Georges Elhedery purchased 26,899 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average cost of GBX 713 ($9.17) per share, with a total value of £191,789.87 ($246,706.80). Company insiders own 0.32% of the company’s stock.

About HSBC

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.