HSBC Holdings plc (LON:HSBA) dropped 1.5% on Tuesday . The stock traded as low as GBX 733 ($9.47) and last traded at GBX 734.10 ($9.48). Approximately 16,674,956 shares changed hands during trading, a decline of 11% from the average daily volume of 18,831,100 shares. The stock had previously closed at GBX 745 ($9.62).

HSBA has been the topic of several research reports. Investec lowered shares of HSBC Holdings plc to a “sell” rating and set a GBX 640 ($8.27) price objective on the stock. in a research note on Monday, June 12th. Citigroup Inc. reiterated a “buy” rating and set a GBX 850 ($10.98) price objective on shares of HSBC Holdings plc in a research note on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) set a GBX 740 ($9.56) price objective on shares of HSBC Holdings plc and gave the stock a “neutral” rating in a research note on Friday, June 16th. Morgan Stanley set a GBX 850 ($10.98) price objective on shares of HSBC Holdings plc and gave the stock a “buy” rating in a research note on Monday, July 17th. Finally, Jefferies Group LLC initiated coverage on shares of HSBC Holdings plc in a research note on Monday. They set a “buy” rating and a GBX 920 ($11.88) price objective on the stock. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of GBX 693.71 ($8.96).

The company’s market capitalization is GBX 147.22 billion. The stock’s 50-day moving average is GBX 747.30 and its 200-day moving average is GBX 692.08.

The firm also recently announced a dividend, which will be paid on Wednesday, September 20th. Investors of record on Thursday, August 3rd will be issued a dividend of $0.10 per share. This represents a yield of 1.02%. The ex-dividend date of this dividend is Thursday, August 3rd.

In other HSBC Holdings plc news, insider Jonathan Symonds bought 10,000 shares of HSBC Holdings plc stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average price of GBX 766 ($9.89) per share, for a total transaction of £76,600 ($98,928.06). Also, insider Marc Moses bought 17,083 shares of HSBC Holdings plc stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average price of GBX 737 ($9.52) per share, with a total value of £125,901.71 ($162,600.68). Insiders have purchased 27,145 shares of company stock valued at $20,295,156 in the last 90 days.

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HSBC Holdings plc Company Profile

HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.

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