HSBC (LON:HSBA) Shares Pass Above Two Hundred Day Moving Average of $520.38

HSBC Holdings plc (LON:HSBAGet Rating) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 520.38 ($6.29) and traded as high as GBX 541 ($6.54). HSBC shares last traded at GBX 534.10 ($6.45), with a volume of 25,526,888 shares.

Analyst Upgrades and Downgrades

HSBA has been the subject of a number of analyst reports. Barclays upped their price target on HSBC from GBX 720 ($8.70) to GBX 780 ($9.42) and gave the stock an “overweight” rating in a report on Tuesday, August 2nd. Credit Suisse Group set a GBX 595 ($7.19) price target on HSBC in a report on Thursday, September 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 570 ($6.89) price target on shares of HSBC in a report on Tuesday, August 2nd. Berenberg Bank increased their target price on HSBC from GBX 560 ($6.77) to GBX 625 ($7.55) and gave the company a “hold” rating in a research note on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. increased their target price on HSBC from GBX 570 ($6.89) to GBX 590 ($7.13) and gave the company a “neutral” rating in a research note on Tuesday, September 6th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of GBX 645.27 ($7.80).

HSBC Trading Up 0.8 %

The firm has a market capitalization of £106.65 billion and a price-to-earnings ratio of 937.02. The company has a 50-day moving average of GBX 530.76 and a 200-day moving average of GBX 520.38.

HSBC Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, August 18th will be given a dividend of $0.09 per share. This represents a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, August 18th. HSBC’s dividend payout ratio is currently 44.20%.

Insider Activity at HSBC

In related news, insider Ewen Stevenson bought 34,866 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were purchased at an average cost of GBX 537 ($6.49) per share, with a total value of £187,230.42 ($226,232.99).

HSBC Company Profile

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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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