HSBC (LON:HSBA) Price Target Increased to GBX 700 by Analysts at JPMorgan Chase & Co.

HSBC (LON:HSBA) had its price objective lifted by JPMorgan Chase & Co. from GBX 660 ($8.29) to GBX 700 ($8.79) in a report published on Thursday, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other equities research analysts have also commented on HSBA. Barclays reissued an overweight rating and issued a GBX 800 ($10.05) price target on shares of HSBC in a research report on Thursday, February 29th. Berenberg Bank increased their target price on shares of HSBC from GBX 800 ($10.05) to GBX 830 ($10.43) and gave the company a buy rating in a report on Tuesday, April 30th. Citigroup restated a buy rating and set a GBX 810 ($10.17) price target on shares of HSBC in a report on Wednesday, April 10th. Finally, Shore Capital reiterated a buy rating on shares of HSBC in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of GBX 807.65 ($10.15).

HSBC Stock Performance

Shares of HSBA opened at GBX 705.50 ($8.86) on Thursday. HSBC has a 52 week low of GBX 572.90 ($7.20) and a 52 week high of GBX 714.40 ($8.97). The stock has a 50 day moving average price of GBX 631.06 and a two-hundred day moving average price of GBX 619.61. The firm has a market capitalization of £132.85 billion, a P/E ratio of 766.85, a P/E/G ratio of 5.18 and a beta of 0.58.

HSBC Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, June 21st. Investors of record on Thursday, May 9th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a dividend yield of 3.7%. HSBC’s dividend payout ratio (DPR) is presently 5,326.09%.

Insider Activity

In other HSBC news, insider Noel Quinn sold 89,546 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of GBX 596 ($7.49), for a total transaction of £533,694.16 ($670,385.83). In other HSBC news, insider Noel Quinn sold 89,546 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of GBX 596 ($7.49), for a total transaction of £533,694.16 ($670,385.83). Also, insider Georges Elhedery sold 28,719 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.41), for a total value of £169,442.10 ($212,840.22). Insiders own 0.32% of the company’s stock.

HSBC Company Profile

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.