HSBC (LON:HSBA) Given New GBX 700 Price Target at JPMorgan Chase & Co.

HSBC (LON:HSBA) had its price objective boosted by JPMorgan Chase & Co. from GBX 660 ($8.29) to GBX 700 ($8.79) in a report published on Thursday morning, Marketbeat.com reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

HSBA has been the topic of several other research reports. Citigroup reissued a buy rating and set a GBX 810 ($10.17) target price on shares of HSBC in a research report on Wednesday, April 10th. Berenberg Bank upped their target price on HSBC from GBX 800 ($10.05) to GBX 830 ($10.43) and gave the company a buy rating in a research report on Tuesday. Shore Capital restated a buy rating on shares of HSBC in a research note on Tuesday. Finally, Barclays reaffirmed an overweight rating and set a GBX 800 ($10.05) target price on shares of HSBC in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of GBX 831.69 ($10.45).

HSBC Stock Performance

HSBA traded up GBX 0.50 ($0.01) during trading on Thursday, hitting GBX 705.50 ($8.86). The stock had a trading volume of 16,225,577 shares, compared to its average volume of 27,885,221. The stock has a 50 day simple moving average of GBX 628.90 and a two-hundred day simple moving average of GBX 619.68. HSBC has a twelve month low of GBX 572.90 ($7.20) and a twelve month high of GBX 714.40 ($8.97). The company has a market capitalization of £133.27 billion, a PE ratio of 775.27, a PEG ratio of 0.45 and a beta of 0.58.

HSBC Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, June 21st. Shareholders of record on Thursday, May 9th will be given a dividend of $0.31 per share. This represents a yield of 3.7%. The ex-dividend date is Thursday, May 9th. HSBC’s dividend payout ratio is presently 5,274.73%.

Insider Activity

In other HSBC news, insider Noel Quinn sold 89,546 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of GBX 596 ($7.49), for a total transaction of £533,694.16 ($670,385.83). In other news, insider Georges Elhedery sold 28,719 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of GBX 590 ($7.41), for a total value of £169,442.10 ($212,840.22). Also, insider Noel Quinn sold 89,546 shares of the business’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 transaction of £533,694.16 ($670,385.83). Company insiders own 0.36% of the company’s stock.

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.