HSBC’s (HSBA) “Buy” Rating Reiterated at Berenberg Bank

Berenberg Bank reiterated their buy rating on shares of HSBC (LON:HSBA – Get Rating) in a research report report published on Friday, Digital Look reports. They currently have a GBX 780 ($9.70) price target on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of HSBC from GBX 880 ($10.95) to GBX 1,000 ($12.44) and gave the stock a buy rating in a report on Wednesday, May 3rd. Citigroup reiterated a buy rating on shares of HSBC in a report on Tuesday, February 7th. Bank of America reiterated a buy rating on shares of HSBC in a report on Monday, January 30th. Barclays increased their price objective on shares of HSBC from GBX 840 ($10.45) to GBX 900 ($11.19) and gave the company an overweight rating in a research report on Wednesday, May 3rd. Finally, Jefferies Financial Group set a GBX 900 ($11.19) price objective on shares of HSBC in a research report on Tuesday, March 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of GBX 771 ($9.59).

HSBC Stock Performance

Shares of HSBA stock opened at GBX 617.20 ($7.68) on Friday. The firm’s 50 day moving average price is GBX 573.39 and its 200-day moving average price is GBX 560.29. HSBC has a one year low of GBX 434.70 ($5.41) and a one year high of GBX 653.80 ($8.13). The firm has a market cap of £123.25 billion, a P/E ratio of 670.87, a P/E/G ratio of 0.78 and a beta of 0.59.

HSBC Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, June 23rd. Investors of record on Thursday, May 11th will be paid a $0.10 dividend. This represents a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, May 11th. HSBC’s dividend payout ratio (DPR) is 3,695.65%.

Insider Activity at HSBC

In related news, insider Georges Elhedery acquired 31,962 shares of HSBC stock in a transaction that occurred on Monday, May 15th. The stock was purchased at an average price of GBX 600 ($7.46) per share, for a total transaction of £191,772 ($238,522.39). Company insiders own 0.22% of the company’s stock.

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.