Citigroup Reaffirms Buy Rating for HSBC (LON:HSBA)

Citigroup reaffirmed their buy rating on shares of HSBC (LON:HSBA) in a research report sent to investors on Wednesday morning, MarketBeat.com reports. Citigroup currently has a GBX 810 ($10.25) target price on the financial services provider’s stock.

Several other brokerages also recently commented on HSBA. Barclays reaffirmed an overweight rating and issued a GBX 800 ($10.13) target price on shares of HSBC in a research note on Thursday, February 29th. Shore Capital restated a buy rating on shares of HSBC in a research report on Tuesday. Finally, Berenberg Bank reduced their target price on HSBC from GBX 820 ($10.38) to GBX 800 ($10.13) and set a buy rating on the stock in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, HSBC presently has a consensus rating of Moderate Buy and an average target price of GBX 822.94 ($10.42).

HSBC Price Performance

Shares of LON:HSBA opened at GBX 653.40 ($8.27) on Wednesday. The firm’s 50 day simple moving average is GBX 616.37 and its 200 day simple moving average is GBX 618.06. HSBC has a fifty-two week low of GBX 559.90 ($7.09) and a fifty-two week high of GBX 665.60 ($8.42). The company has a market capitalization of £123.82 billion, a price-to-earnings ratio of 726.00, a P/E/G ratio of 0.45 and a beta of 0.58.

HSBC Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, April 25th. Investors of record on Thursday, March 7th will be issued a dividend of $0.31 per share. This represents a dividend yield of 3.81%. This is a positive change from HSBC’s previous dividend of $0.10. The ex-dividend date of this dividend is Thursday, March 7th. HSBC’s dividend payout ratio (DPR) is presently 5,333.33%.

Insider Activity at HSBC

In other HSBC news, insider Noel Quinn sold 89,546 shares of HSBC stock in a transaction dated Monday, February 26th. The stock was sold at an average price of GBX 596 ($7.54), for a total value of £533,694.16 ($675,476.72). In other HSBC news, insider Noel Quinn sold 89,546 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of GBX 596 ($7.54), for a total value of £533,694.16 ($675,476.72). Also, insider Georges Elhedery sold 28,719 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.47), for a total transaction of £169,442.10 ($214,456.52). 0.35% of the stock is currently owned by insiders.

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.