HSBC’s (HSBA) Buy Rating Reiterated at Shore Capital

Shore Capital reaffirmed their buy rating on shares of HSBC (LON:HSBA) in a report issued on Tuesday, MarketBeat reports.

Other equities research analysts have also recently issued research reports about the stock. Berenberg Bank lowered their target price on shares of 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. Barclays reiterated an overweight rating and issued a GBX 800 ($10.13) price objective on shares of HSBC in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, HSBC has a consensus rating of Moderate Buy and an average price target of GBX 822.94 ($10.42).

HSBC Trading Up 1.0 %

Shares of HSBC stock opened at GBX 653.40 ($8.27) on Tuesday. The business’s fifty day simple moving average is GBX 616.37 and its 200 day simple moving average is GBX 618.06. The firm has a market capitalization of £123.82 billion, a P/E ratio of 726.00, a price-to-earnings-growth ratio of 0.45 and a beta of 0.58. HSBC has a 12 month low of GBX 559.90 ($7.09) and a 12 month high of GBX 665.60 ($8.42).

HSBC Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, April 25th. Shareholders of record on Thursday, March 7th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This is a boost from HSBC’s previous dividend of $0.10. This represents a yield of 3.81%. HSBC’s payout ratio is 5,333.33%.

Insiders Place Their Bets

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