HSBC Holdings plc (HSBA) Downgraded by Credit Suisse Group to “Underperform”
Credit Suisse Group lowered shares of HSBC Holdings plc (LON:HSBA) to an underperform rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. Credit Suisse Group currently has GBX 650 ($8.55) price objective on the financial services provider’s stock, up from their previous price objective of GBX 630 ($8.28).
HSBA has been the topic of several other reports. Citigroup Inc. reaffirmed a buy rating and issued a GBX 725 ($9.53) price objective on shares of HSBC Holdings plc in a report on Friday, June 16th. BNP Paribas reaffirmed an outperform rating and issued a GBX 715 ($9.40) price objective on shares of HSBC Holdings plc in a report on Wednesday, July 19th. Barclays PLC upped their price objective on shares of HSBC Holdings plc from GBX 650 ($8.55) to GBX 700 ($9.20) and gave the company an equal weight rating in a report on Tuesday, August 1st. Shore Capital reaffirmed a sell rating on shares of HSBC Holdings plc in a report on Monday, July 31st. Finally, Morgan Stanley reaffirmed an overweight rating and issued a GBX 850 ($11.18) price objective on shares of HSBC Holdings plc in a report on Friday, September 29th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of GBX 712.15 ($9.36).
HSBC Holdings plc (HSBA) opened at 739.00 on Tuesday. HSBC Holdings plc has a 52 week low of GBX 518.17 and a 52 week high of GBX 772.00. The company’s market cap is GBX 149.79 billion. The firm’s 50 day moving average is GBX 737.36 and its 200-day moving average is GBX 705.22.
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The company also recently declared a dividend, which will be paid on Wednesday, November 22nd. Investors of record on Thursday, October 12th will be issued a dividend of $0.10 per share. This represents a yield of 1.01%. The ex-dividend date is Thursday, October 12th.
In related news, insider Douglas J. Flint acquired 58 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were acquired at an average cost of GBX 724 ($9.52) per share, with a total value of £419.92 ($552.09). Also, insider Stuart Thomson Gulliver sold 138,143 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of GBX 732 ($9.62), for a total transaction of £1,011,206.76 ($1,329,485.62). Insiders have purchased 27,202 shares of company stock worth $20,337,321 over the last three months.
About HSBC Holdings plc
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.
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