HSBC (LON:HSBA) Stock Passes Above 200-Day Moving Average of $618.02

HSBC Holdings plc (LON:HSBA) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 618.02 ($7.69) and traded as high as GBX 645.60 ($8.04). HSBC shares last traded at GBX 644.60 ($8.02), with a volume of 29,092,268 shares trading hands.

Wall Street Analysts Forecast Growth

HSBA has been the topic of several recent analyst reports. Shore Capital reiterated a “buy” rating on shares of HSBC in a report on Tuesday, April 9th. Barclays reissued an “overweight” rating and set a GBX 800 ($9.96) price objective on shares of HSBC in a research note on Thursday, February 29th. JPMorgan Chase & Co. upped their price objective on HSBC from GBX 600 ($7.47) to GBX 660 ($8.22) and gave the stock a “neutral” rating in a report on Thursday, April 11th. Berenberg Bank reduced their target price on HSBC from GBX 820 ($10.21) to GBX 800 ($9.96) and set a “buy” rating on the stock in a report on Wednesday, February 21st. Finally, Citigroup restated a “buy” rating and set a GBX 810 ($10.08) price target on shares of HSBC in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 822.94 ($10.24).

HSBC Price Performance

The company has a market cap of £122.07 billion, a PE ratio of 710.11, a P/E/G ratio of 0.45 and a beta of 0.58. The company has a 50-day moving average price of GBX 618.45 and a two-hundred day moving average price of GBX 618.06.

HSBC Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, April 25th. Shareholders of record on Thursday, March 7th will be given a $0.31 dividend. This is an increase from HSBC’s previous dividend of $0.10. The ex-dividend date of this dividend is Thursday, March 7th. This represents a yield of 3.81%. HSBC’s dividend payout ratio (DPR) is 5,274.73%.

Insider Activity

In other HSBC news, insider Noel Quinn sold 89,546 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of GBX 596 ($7.42), for a total value of £533,694.16 ($664,377.14). In other news, insider Georges Elhedery sold 28,719 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of GBX 590 ($7.34), for a total transaction of £169,442.10 ($210,932.53). Also, insider Noel Quinn sold 89,546 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of GBX 596 ($7.42), for a total transaction of £533,694.16 ($664,377.14). Insiders own 0.36% 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.