HSBC (LON:HSBA) Share Price Passes Above 200-Day Moving Average of $618.02

HSBC Holdings plc (LON:HSBA)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 618.02 ($7.69) and traded as high as GBX 645.60 ($8.04). HSBC shares last traded at GBX 644.60 ($8.02), with a volume of 29,092,268 shares traded.

Wall Street Analysts Forecast Growth

HSBA has been the subject of several recent research reports. Berenberg Bank lowered their price target on HSBC from GBX 820 ($10.21) to GBX 800 ($9.96) and set a “buy” rating for the company in a report on Wednesday, February 21st. Barclays restated an “overweight” rating and issued a GBX 800 ($9.96) price target on shares of HSBC in a research note on Thursday, February 29th. JPMorgan Chase & Co. upped their price target on shares of HSBC from GBX 600 ($7.47) to GBX 660 ($8.22) and gave the company a “neutral” rating in a report on Thursday, April 11th. Shore Capital reissued a “buy” rating on shares of HSBC in a report on Tuesday, April 9th. Finally, Citigroup reissued a “buy” rating and issued a GBX 810 ($10.08) target price on shares of HSBC in a research report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 822.94 ($10.24).

HSBC Trading Down 1.3 %

The stock’s 50-day moving average price is GBX 617.72 and its 200-day moving average price is GBX 618.02. The company has a market capitalization of £120.22 billion, a P/E ratio of 708.35, a P/E/G ratio of 0.45 and a beta of 0.58.

HSBC Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, April 25th. Shareholders of record on Thursday, March 7th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a yield of 3.81%. This is a boost from HSBC’s previous dividend of $0.10. HSBC’s dividend payout ratio (DPR) is currently 5,274.73%.

Insider Buying and Selling at HSBC

In other news, insider Georges Elhedery sold 28,719 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.34), for a total transaction of £169,442.10 ($210,932.53). In other HSBC 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 ($7.42), for a total value of £533,694.16 ($664,377.14). Also, insider Georges Elhedery sold 28,719 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of GBX 590 ($7.34), for a total transaction of £169,442.10 ($210,932.53). 0.36% of the stock is currently owned by insiders.

About HSBC

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.