Stock analysts at Numis Securities began coverage on shares of HSBC (LON:HSBA) in a report released on Tuesday, February 5th. The brokerage set a “reduce” rating and a GBX 575 ($7.51) price target on the financial services provider’s stock. Numis Securities’ target price suggests a potential downside of 6.37% from the stock’s current price.
Several other research analysts have also weighed in on the stock. Credit Suisse Group set a GBX 695 ($9.08) price objective on shares of HSBC and gave the stock a “neutral” rating in a research note on Thursday, January 31st. Barclays restated an “underweight” rating on shares of HSBC in a report on Tuesday, January 29th. JPMorgan Chase & Co. dropped their target price on shares of HSBC from GBX 750 ($9.80) to GBX 690 ($9.02) and set a “neutral” rating on the stock in a report on Monday, January 21st. Goldman Sachs Group set a GBX 815 ($10.65) target price on shares of HSBC and gave the stock a “neutral” rating in a report on Thursday, January 17th. Finally, Deutsche Bank downgraded shares of HSBC to a “sell” rating and dropped their target price for the stock from GBX 718 ($9.38) to GBX 560 ($7.32) in a report on Monday, January 14th. Seven equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of GBX 667.69 ($8.72).
HSBC stock traded up GBX 1.20 ($0.02) during midday trading on Tuesday, hitting GBX 614.10 ($8.02). 21,081,164 shares of the stock were exchanged, compared to its average volume of 26,590,000. HSBC has a 52 week low of GBX 618 ($8.08) and a 52 week high of GBX 798.60 ($10.44).
In other news, insider Iain Mackay acquired 19,551 shares of the business’s stock in a transaction that occurred on Monday, December 10th. The stock was acquired at an average price of GBX 644 ($8.42) per share, with a total value of £125,908.44 ($164,521.68). Also, insider Ewen Stevenson bought 100,000 shares of the stock in a transaction on Wednesday, February 20th. The shares were acquired at an average cost of GBX 645 ($8.43) per share, with a total value of £645,000 ($842,806.74).
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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