Societe Generale downgraded shares of HSBC (LON:HSBA) to a sell rating in a report published on Tuesday, Stock Target Advisor reports. They currently have GBX 450 ($5.92) price objective on the financial services provider’s stock, down from their prior price objective of GBX 600 ($7.89).
Several other equities research analysts have also issued reports on the company. Barclays reiterated an underweight rating and set a GBX 550 ($7.23) price target (down from GBX 560 ($7.37)) on shares of HSBC in a report on Monday, March 2nd. Bank of America upgraded HSBC to a buy rating in a report on Thursday, December 12th. Morgan Stanley reiterated an underweight rating on shares of HSBC in a report on Wednesday, February 19th. Shore Capital reiterated a hold rating on shares of HSBC in a report on Wednesday, March 18th. Finally, Jefferies Financial Group reiterated a buy rating and set a GBX 790 ($10.39) price target on shares of HSBC in a report on Tuesday, February 18th. Nine equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of GBX 555 ($7.30).
Shares of HSBC stock opened at GBX 468.15 ($6.16) on Tuesday. The firm has a market cap of $101.23 billion and a price-to-earnings ratio of 15.82. HSBC has a 52-week low of GBX 5.76 ($0.08) and a 52-week high of GBX 741 ($9.75). The stock has a 50-day simple moving average of GBX 528.56 and a 200-day simple moving average of GBX 576.03.
The business also recently disclosed a dividend, which will be paid on Tuesday, April 14th. Investors of record on Thursday, February 27th will be paid a $0.21 dividend. This represents a dividend yield of 2.73%. This is an increase from HSBC’s previous dividend of $0.10. The ex-dividend date is Thursday, February 27th. HSBC’s dividend payout ratio (DPR) is presently 1.35%.
In other HSBC news, insider Noel Quinn sold 8,237 shares of HSBC stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of GBX 482 ($6.34), for a total value of £39,702.34 ($52,226.18). Also, insider Ewen Stevenson sold 45,215 shares of HSBC stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of GBX 562 ($7.39), for a total value of £254,108.30 ($334,265.06). Insiders sold a total of 129,640 shares of company stock worth $64,454,610 over the last three months.
HSBC Company Profile
HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.
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