HSBC (NYSE:HSBC) Price Target Increased to GBX 780 by Analysts at Barclays

HSBC (NYSE:HSBCGet Rating) had its target price increased by Barclays from GBX 720 ($8.82) to GBX 780 ($9.56) in a report issued on Tuesday morning, The Fly reports.

HSBC has been the subject of a number of other research reports. BNP Paribas cut shares of HSBC from an outperform rating to a neutral rating in a research note on Tuesday. Morgan Stanley raised their target price on shares of HSBC from GBX 590 ($7.23) to GBX 624 ($7.65) in a research note on Wednesday, July 6th. Credit Suisse Group raised their target price on shares of HSBC from GBX 525 ($6.43) to GBX 575 ($7.05) in a research note on Tuesday. Royal Bank of Canada raised their target price on shares of HSBC from GBX 550 ($6.74) to GBX 590 ($7.23) in a research note on Friday, May 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of HSBC from GBX 540 ($6.62) to GBX 550 ($6.74) in a research note on Thursday, May 19th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, HSBC has a consensus rating of Moderate Buy and a consensus price target of $609.86.

HSBC Stock Performance

Shares of HSBC stock opened at $32.45 on Tuesday. The stock has a market cap of $132.49 billion, a P/E ratio of 11.39, a P/E/G ratio of 0.46 and a beta of 0.51. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.95 and a quick ratio of 0.95. The company has a fifty day moving average price of $32.11 and a two-hundred day moving average price of $33.21. HSBC has a one year low of $24.31 and a one year high of $38.61.

HSBC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Friday, August 19th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date is Thursday, August 18th. HSBC’s dividend payout ratio is 43.51%.

Hedge Funds Weigh In On HSBC

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in HSBC by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,833,179 shares of the financial services provider’s stock valued at $336,492,000 after buying an additional 330,792 shares during the period. Goldman Sachs Group Inc. increased its holdings in HSBC by 62.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,738,851 shares of the financial services provider’s stock valued at $127,944,000 after buying an additional 1,443,765 shares during the period. JPMorgan Chase & Co. increased its holdings in HSBC by 3.8% in the 4th quarter. JPMorgan Chase & Co. now owns 3,374,145 shares of the financial services provider’s stock valued at $101,730,000 after buying an additional 124,185 shares during the period. Citigroup Inc. increased its holdings in HSBC by 26.9% in the 4th quarter. Citigroup Inc. now owns 1,879,075 shares of the financial services provider’s stock valued at $56,653,000 after buying an additional 398,822 shares during the period. Finally, Northern Trust Corp increased its holdings in HSBC by 0.8% in the 1st quarter. Northern Trust Corp now owns 1,752,609 shares of the financial services provider’s stock valued at $59,974,000 after buying an additional 13,243 shares during the period. 1.14% of the stock is owned by institutional investors.

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.

Further Reading

The Fly logo

Analyst Recommendations for HSBC (NYSE:HSBC)

Receive News & Ratings for HSBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HSBC and related companies with MarketBeat.com's FREE daily email newsletter.