HSBC (LON:HSBA) PT Raised to GBX 700 at JPMorgan Chase & Co.

HSBC (LON:HSBA) had its target price hoisted by analysts at JPMorgan Chase & Co. from GBX 660 ($8.29) to GBX 700 ($8.79) in a report released on Thursday, Digital Look reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 1.14% from the stock’s previous close.

Several other analysts also recently issued reports on HSBA. Barclays reiterated an “overweight” rating and set a GBX 800 ($10.05) price target on shares of HSBC in a research note on Thursday, February 29th. Citigroup reiterated a “buy” rating and issued a GBX 810 ($10.17) target price on shares of HSBC in a research note on Wednesday, April 10th. Shore Capital restated a “buy” rating on shares of HSBC in a research report on Tuesday. Finally, Berenberg Bank lifted their price target on shares of HSBC from GBX 800 ($10.05) to GBX 830 ($10.43) and gave the stock a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, HSBC has a consensus rating of “Moderate Buy” and a consensus target price of GBX 831.69 ($10.45).

HSBC Stock Performance

Shares of LON HSBA traded up GBX 10.60 ($0.13) during trading hours on Thursday, hitting GBX 708.10 ($8.89). The stock had a trading volume of 199,636,009 shares, compared to its average volume of 30,593,387. The company has a market capitalization of £133.76 billion, a P/E ratio of 780.44, a P/E/G ratio of 0.45 and a beta of 0.58. HSBC has a 52 week low of GBX 572.90 ($7.20) and a 52 week high of GBX 712.30 ($8.95). The firm’s 50-day moving average price is GBX 626.61 and its two-hundred day moving average price is GBX 619.08.

Insiders Place Their Bets

In related 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 ($7.49), for a total value of £533,694.16 ($670,385.83). In other HSBC news, insider Noel Quinn sold 89,546 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of GBX 596 ($7.49), for a total transaction of £533,694.16 ($670,385.83). Also, insider Georges Elhedery sold 28,719 shares of HSBC stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of GBX 590 ($7.41), for a total transaction of £169,442.10 ($212,840.22). Corporate 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.