Shore Capital Reaffirms Buy Rating for HSBC (LON:HSBA)

HSBC (LON:HSBA)‘s stock had its “buy” rating reissued by Shore Capital in a note issued to investors on Tuesday, Digital Look reports.

Other analysts have also recently issued research reports about the company. Citigroup reissued a “buy” rating and set a GBX 810 ($10.17) price objective on shares of HSBC in a research report on Wednesday, April 10th. Barclays reiterated an “overweight” rating and set a GBX 800 ($10.05) price target on shares of HSBC in a report on Thursday, February 29th. Berenberg Bank dropped their price objective on HSBC from GBX 820 ($10.30) to GBX 800 ($10.05) and set a “buy” rating on the stock in a report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of HSBC from GBX 600 ($7.54) to GBX 660 ($8.29) and gave the company a “neutral” rating in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 822.94 ($10.34).

HSBC Trading Up 2.7 %

LON HSBA traded up GBX 18.35 ($0.23) during trading on Tuesday, reaching GBX 686.45 ($8.62). 47,656,211 shares of the company’s stock were exchanged, compared to its average volume of 28,288,461. The company’s fifty day simple moving average is GBX 623.42 and its 200-day simple moving average is GBX 618.22. The firm has a market capitalization of £129.67 billion, a PE ratio of 754.34, a P/E/G ratio of 0.45 and a beta of 0.58. HSBC has a fifty-two week low of GBX 572.90 ($7.20) and a fifty-two week high of GBX 702.50 ($8.82).

Insider Buying and Selling

In other news, insider Noel Quinn sold 89,546 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of GBX 596 ($7.49), for a total value of £533,694.16 ($670,385.83). In related news, insider Noel Quinn sold 89,546 shares of the company’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 transaction of £169,442.10 ($212,840.22). 0.36% of the stock is 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.