HSBC (LON:HSBA) Rating Increased to Hold at Shore Capital Group

Shore Capital Group upgraded shares of HSBC (LON:HSBA) to a hold rating in a research report released on Thursday, Marketbeat reports. They currently have GBX 1,250 target price on the financial services provider’s stock, up from their prior target price of GBX 1,210.

Several other brokerages have also recently issued reports on HSBA. Citigroup increased their price target on shares of HSBC from GBX 1,240 to GBX 1,320 and gave the stock a “buy” rating in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of HSBC from GBX 1,050 to GBX 1,200 and gave the stock a “hold” rating in a research report on Friday, January 23rd. Jefferies Financial Group reissued a “hold” rating and set a GBX 1,120 price target on shares of HSBC in a research report on Tuesday. UBS Group reissued a “neutral” rating and set a GBX 1,419 price target on shares of HSBC in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on shares of HSBC from GBX 1,190 to GBX 1,360 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of GBX 1,271.13.

HSBC Price Performance

Shares of LON:HSBA opened at GBX 1,318.83 on Thursday. The firm has a market capitalization of £226.15 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 5.97 and a beta of 0.57. HSBC has a 1 year low of GBX 846.70 and a 1 year high of GBX 1,410.60. The firm’s 50-day moving average is GBX 1,281.78 and its two-hundred day moving average is GBX 1,200.83.

Insider Activity at HSBC

In related news, insider Georges Elhedery sold 94,749 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of GBX 1,280, for a total value of £1,212,787.20. Also, insider Pam Kaur sold 81,967 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of GBX 1,280, for a total transaction of £1,049,177.60. In the last ninety days, insiders sold 242,798 shares of company stock worth $308,402,488. 0.14% of the stock is owned by corporate insiders.

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