HSBC (LON:HSBA) Given New GBX 590 Price Target at Royal Bank of Canada

HSBC (LON:HSBAGet Rating) had its target price increased by Royal Bank of Canada from GBX 550 ($6.87) to GBX 590 ($7.37) in a research report report published on Thursday morning, Marketbeat.com reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other equities research analysts also recently commented on HSBA. Credit Suisse Group set a GBX 515 ($6.43) target price on shares of HSBC in a research note on Wednesday, April 27th. Shore Capital downgraded shares of HSBC to a hold rating in a research note on Friday, April 22nd. Jefferies Financial Group set a GBX 574 ($7.17) target price on shares of HSBC in a research note on Wednesday, April 27th. Deutsche Bank Rese… set a GBX 500 ($6.25) price target on shares of HSBC in a report on Wednesday, April 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of HSBC from GBX 510 ($6.37) to GBX 540 ($6.75) and gave the company a neutral rating in a report on Tuesday. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, HSBC currently has an average rating of Hold and a consensus target price of GBX 565.25 ($7.06).

Shares of LON:HSBA opened at GBX 508.20 ($6.35) on Thursday. HSBC has a 52 week low of GBX 358.45 ($4.48) and a 52 week high of GBX 567.20 ($7.09). The company has a market capitalization of £102.27 billion and a PE ratio of 10.28. The company has a 50 day moving average price of GBX 508.01 and a two-hundred day moving average price of GBX 485.63.

The firm also recently announced a dividend, which was paid on Thursday, April 28th. Investors of record on Thursday, March 10th were issued a dividend of $0.18 per share. This is a boost from HSBC’s previous dividend of $0.07. The ex-dividend date was Thursday, March 10th. This represents a yield of 2.42%. HSBC’s dividend payout ratio is presently 0.51%.

In related news, insider Ewen Stevenson sold 57,884 shares of the stock in a transaction on Monday, March 14th. The shares were sold at an average price of GBX 488 ($6.10), for a total transaction of £282,473.92 ($352,871.86).

HSBC Company Profile (Get Rating)

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.

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