HSBC (LON:HSBA) Earns Top Pick Rating from Citigroup

Citigroup reissued their top pick rating on shares of HSBC (LON:HSBA) in a report released on Monday morning, Marketbeat.com reports.

Several other brokerages have also recently issued reports on HSBA. JPMorgan Chase & Co. boosted their price target on HSBC from GBX 660 ($8.45) to GBX 700 ($8.97) and gave the company a neutral rating in a research report on Thursday, May 2nd. Berenberg Bank boosted their target price on HSBC from GBX 800 ($10.25) to GBX 830 ($10.63) and gave the stock a buy rating in a research report on Tuesday, April 30th. Finally, Shore Capital restated a buy rating on shares of HSBC in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, HSBC has a consensus rating of Moderate Buy and a consensus price target of GBX 792 ($10.14).

HSBC Trading Down 0.2 %

HSBA stock opened at GBX 669.40 ($8.57) on Monday. The company’s 50 day moving average is GBX 690.20 and its two-hundred day moving average is GBX 646.71. 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 market cap of £125.58 billion, a P/E ratio of 735.60, a PEG ratio of 5.15 and a beta of 0.56.

HSBC Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, June 21st. Investors of record on Thursday, May 9th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a yield of 3.7%. HSBC’s payout ratio is currently 5,384.62%.

Insider Buying and Selling

In other HSBC news, insider Georges Elhedery purchased 26,899 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was bought at an average price of GBX 713 ($9.13) per share, with a total value 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.