HSBC (LON:HSBA) Stock Crosses Above Two Hundred Day Moving Average of $616.89

HSBC Holdings plc (LON:HSBAGet Free Report)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 616.89 ($7.80) and traded as high as GBX 627.50 ($7.93). HSBC shares last traded at GBX 619 ($7.82), with a volume of 18,531,648 shares.

Analysts Set New Price Targets

Several research firms have recently issued reports on HSBA. Shore Capital reaffirmed a “buy” rating on shares of HSBC in a report on Thursday, February 29th. Berenberg Bank decreased their price target on shares of HSBC from GBX 820 ($10.36) to GBX 800 ($10.11) and set a “buy” rating for the company in a research note on Wednesday, February 21st. Finally, Barclays reiterated an “overweight” rating and issued a GBX 800 ($10.11) price objective on shares of HSBC in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 788.73 ($9.97).

Read Our Latest Stock Analysis on HSBC

HSBC Stock Up 0.7 %

The firm’s 50-day simple moving average is GBX 609.68 and its 200-day simple moving average is GBX 616.89. The firm has a market capitalization of £117.55 billion, a PE ratio of 687.78, a price-to-earnings-growth ratio of 0.45 and a beta of 0.59.

HSBC Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, April 25th. Stockholders of record on Thursday, March 7th will be paid a dividend of $0.31 per share. This represents a dividend yield of 3.81%. This is an increase from HSBC’s previous dividend of $0.10. The ex-dividend date of this dividend is Thursday, March 7th. HSBC’s dividend payout ratio is 5,333.33%.

Insider Activity at HSBC

In other HSBC news, insider Georges Elhedery sold 28,719 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of GBX 590 ($7.46), for a total value of £169,442.10 ($214,131.30). In related news, insider Noel Quinn sold 89,546 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of GBX 596 ($7.53), for a total value of £533,694.16 ($674,452.37). Also, insider Georges Elhedery sold 28,719 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.46), for a total transaction of £169,442.10 ($214,131.30). 0.31% of the stock is owned by corporate insiders.

About HSBC

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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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