HSBC (LON:HSBA) Given a GBX 575 Price Target by Credit Suisse Group Analysts

Credit Suisse Group set a GBX 575 ($7.05) price target on HSBC (LON:HSBA – Get Rating) in a research note published on Tuesday morning, Borsen Zeitung reports.

Other equities analysts have also issued reports about the stock. UBS Group set a GBX 635 ($7.78) target price on shares of HSBC in a research report on Monday, July 11th. Morgan Stanley reaffirmed an equal weight rating on shares of HSBC in a report on Wednesday, May 11th. The Goldman Sachs Group set a GBX 800 ($9.80) target price on HSBC in a research note on Monday. Shore Capital reaffirmed a hold rating on shares of HSBC in a research note on Monday. Finally, Berenberg Bank lifted their price objective on HSBC from GBX 560 ($6.86) to GBX 625 ($7.66) and gave the stock a hold rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of GBX 618.30 ($7.58).

HSBC Stock Down 0.1 %

HSBC stock opened at GBX 534 ($6.54) on Tuesday. HSBC has a 12-month low of GBX 358.45 ($4.39) and a 12-month high of GBX 567.20 ($6.95). The stock has a 50-day simple moving average of GBX 526.71 and a 200 day simple moving average of GBX 519.67. The stock has a market capitalization of £107.06 billion and a price-to-earnings ratio of 1,113.33.

HSBC Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, August 18th will be paid a $0.09 dividend. This represents a yield of 1.44%. The ex-dividend date of this dividend is Thursday, August 18th. HSBC’s payout ratio is presently 52.49%.

Insider Buying and Selling at HSBC

In other news, insider Carolyn Fairbairn bought 15,000 shares of the stock in a transaction on Tuesday, May 17th. The stock was purchased at an average price of GBX 501 ($6.14) per share, with a total value of £75,150 ($92,084.30).

HSBC Company Profile

(Get Rating)

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.

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