HSBC (LON:HSBA) Stock Rating Reaffirmed by Citigroup

HSBC (LON:HSBA)‘s stock had its “top pick” rating reiterated by Citigroup in a research note issued on Monday, MarketBeat.com reports.

Other research analysts have also issued research reports about the company. Berenberg Bank lifted their target price on HSBC from GBX 800 ($10.25) to GBX 830 ($10.63) and gave the company a “buy” rating in a report on Tuesday, April 30th. Shore Capital reaffirmed a “buy” rating on shares of HSBC in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. lifted their target price on HSBC from GBX 660 ($8.45) to GBX 700 ($8.97) and gave the company a “neutral” rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 792 ($10.14).

HSBC Stock Down 0.8 %

HSBA stock opened at GBX 667.50 ($8.55) on Monday. The firm has a market capitalization of £125.22 billion, a PE ratio of 733.52, a PEG ratio of 5.15 and a beta of 0.56. HSBC has a twelve month low of GBX 572.90 ($7.34) and a twelve month high of GBX 725.20 ($9.29). The stock has a 50-day simple moving average of GBX 691.45 and a two-hundred day simple moving average of GBX 646.39.

Insider Activity

In other HSBC news, insider Georges Elhedery purchased 26,899 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average price of GBX 713 ($9.13) per share, for a total transaction of £191,789.87 ($245,663.98). Corporate 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.