HSBC (HSBA) Rating Reiterated by Citigroup
HSBC (LON:HSBA)‘s stock had its “buy” rating reaffirmed by analysts at Citigroup in a report released on Wednesday.
A number of other brokerages also recently issued reports on HSBA. UBS set a GBX 725 ($9.71) price objective on HSBC and gave the stock a “neutral” rating in a research report on Monday, September 4th. J P Morgan Chase & Co set a GBX 690 ($9.24) target price on HSBC and gave the company a “neutral” rating in a research report on Thursday, August 10th. Barclays boosted their price objective on HSBC from GBX 650 ($8.70) to GBX 700 ($9.37) and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. Goldman Sachs Group reissued a “neutral” rating and issued a GBX 770 ($10.31) price objective on shares of HSBC in a research report on Tuesday, August 1st. Finally, Shore Capital restated a “sell” rating on shares of HSBC in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. HSBC presently has a consensus rating of “Hold” and a consensus price target of GBX 746.33 ($10.00).
HSBC (LON:HSBA) traded down GBX 2 ($0.03) on Wednesday, reaching GBX 732 ($9.80). 17,539,619 shares of the company’s stock were exchanged, compared to its average volume of 22,760,000. HSBC has a 1 year low of GBX 518.17 ($6.94) and a 1 year high of GBX 772 ($10.34).
In related news, insider Stuart Thomson Gulliver sold 138,143 shares of HSBC stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of GBX 732 ($9.80), for a total transaction of £1,011,206.76 ($1,354,234.31). Also, insider Iain Mackay purchased 16,980 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average price of GBX 741 ($9.92) per share, for a total transaction of £125,821.80 ($168,503.82). In the last quarter, insiders acquired 17,058 shares of company stock valued at $12,638,772.
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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