Credit Suisse Group upgraded shares of HSBC (LON:HSBA) to a neutral rating in a research report report published on Thursday, September 20th. They currently have GBX 720 ($9.41) price objective on the financial services provider’s stock, up from their previous price objective of GBX 680 ($8.89).
Several other equities research analysts also recently commented on the stock. Goldman Sachs Group decreased their target price on shares of HSBC from GBX 810 ($10.58) to GBX 800 ($10.45) and set a neutral rating for the company in a research report on Monday, August 6th. JPMorgan Chase & Co. set a GBX 780 ($10.19) target price on shares of HSBC and gave the stock a neutral rating in a research report on Tuesday, September 4th. Redburn Partners downgraded shares of HSBC to a sell rating in a research report on Thursday, September 6th. UBS Group set a GBX 750 ($9.80) price objective on shares of HSBC and gave the stock a neutral rating in a research report on Friday, August 31st. Finally, Citigroup reaffirmed a buy rating on shares of HSBC in a research report on Wednesday, September 5th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. HSBC currently has an average rating of Hold and a consensus price target of GBX 757.79 ($9.90).
HSBA stock traded down GBX 1.20 ($0.02) during midday trading on Thursday, hitting GBX 628.90 ($8.22). The stock had a trading volume of 41,619,198 shares, compared to its average volume of 26,590,000. HSBC has a 1-year low of GBX 618 ($8.08) and a 1-year high of GBX 798.60 ($10.44).
The business also recently announced a dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Thursday, October 11th will be given a dividend of $0.10 per share. This represents a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, October 11th.
In related news, insider Iain Mackay sold 24,021 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of GBX 657 ($8.58), for a total transaction of £157,817.97 ($206,217.13).
HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.
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