HSBC (LON:HSBA) Stock Rating Reaffirmed by Citigroup

Citigroup reiterated their buy rating on shares of HSBC (LON:HSBA) in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have a GBX 810 ($10.25) price target on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. Shore Capital restated a buy rating on shares of HSBC in a report on Tuesday, April 9th. Barclays reissued an overweight rating and set a GBX 800 ($10.13) price objective on shares of HSBC in a research note on Thursday, February 29th. Finally, Berenberg Bank cut 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. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of GBX 822.94 ($10.42).

HSBC Stock Up 1.0 %

LON:HSBA opened at GBX 653.40 ($8.27) on Wednesday. HSBC has a 12-month low of GBX 559.90 ($7.09) and a 12-month high of GBX 665.60 ($8.42). The stock’s fifty day simple moving average is GBX 616.37 and its 200-day simple moving average is GBX 617.91. The firm has a market capitalization of £123.82 billion, a P/E 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 declared a dividend, which will be paid on Thursday, April 25th. Stockholders of record on Thursday, March 7th will be issued a $0.31 dividend. This represents a dividend yield of 3.81%. The ex-dividend date is Thursday, March 7th. This is a boost from HSBC’s previous dividend of $0.10. HSBC’s dividend payout ratio is 5,333.33%.

Insider Buying and Selling

In related news, insider Georges Elhedery sold 28,719 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of GBX 590 ($7.47), for a total value of £169,442.10 ($214,456.52). In related news, insider Noel Quinn sold 89,546 shares of HSBC 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 business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of GBX 590 ($7.47), for a total value of £169,442.10 ($214,456.52). 0.35% of the stock is currently owned by company 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.