HSBC (HSBA) Given a GBX 570 Price Target at Royal Bank of Canada
Royal Bank of Canada set a GBX 570 ($7.45) price target on HSBC (LON:HSBA) in a research note issued to investors on Friday. The brokerage currently has a sell rating on the financial services provider’s stock.
HSBA has been the subject of several other research reports. Deutsche Bank reaffirmed a hold rating on shares of HSBC in a report on Tuesday, August 7th. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a GBX 780 ($10.19) target price on shares of HSBC in a report on Monday, August 6th. Shore Capital reaffirmed a hold rating on shares of HSBC in a report on Monday, October 29th. Citigroup reaffirmed a buy rating on shares of HSBC in a report on Wednesday, September 5th. Finally, Redburn Partners downgraded shares of HSBC to a sell rating in a report on Thursday, September 6th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. HSBC has a consensus rating of Hold and an average price target of GBX 720.57 ($9.42).
HSBC stock traded down GBX 10.40 ($0.14) during mid-day trading on Friday, hitting GBX 633.80 ($8.28). The stock had a trading volume of 25,680,553 shares, compared to its average volume of 26,590,000. HSBC has a one year low of GBX 618 ($8.08) and a one year high of GBX 798.60 ($10.44).
In other HSBC news, insider Iain Mackay sold 24,021 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of GBX 657 ($8.58), for a total transaction of £157,817.97 ($206,217.13).
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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