HSBC Holdings plc (LON:HSBA) Given Average Rating of “Moderate Buy” by Analysts

Shares of HSBC Holdings plc (LON:HSBA) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is GBX 792 ($10.14).

Several equities analysts have commented on the stock. Berenberg Bank lifted their target price on shares of HSBC from GBX 800 ($10.25) to GBX 830 ($10.63) and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Shore Capital reiterated a “buy” rating on shares of HSBC in a report on Tuesday, April 30th. JPMorgan Chase & Co. upped their price objective on HSBC from GBX 660 ($8.45) to GBX 700 ($8.97) and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, Citigroup reiterated a “top pick” rating on shares of HSBC in a research note on Monday.

HSBC Price Performance

HSBA opened at GBX 669.10 ($8.57) on Wednesday. HSBC has a fifty-two week low of GBX 572.90 ($7.34) and a fifty-two week high of GBX 725.20 ($9.29). The firm has a market capitalization of £125.52 billion, a P/E ratio of 735.71, a PEG ratio of 5.15 and a beta of 0.56. The company’s 50-day moving average is GBX 691.45 and its 200 day moving average is GBX 646.39.

HSBC Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, June 21st. Investors of record on Thursday, May 9th were paid a dividend of $0.31 per share. This represents a dividend yield of 3.7%. The ex-dividend date was Thursday, May 9th. HSBC’s payout ratio is currently 5,384.62%.

Insider Activity at HSBC

In related news, insider Georges Elhedery acquired 26,899 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average cost of GBX 713 ($9.13) per share, for a total transaction of £191,789.87 ($245,663.98). 0.32% of the stock is 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.