HSBC (LON:HSBA) Rating Reiterated by Berenberg Bank

HSBC (LON:HSBAGet Rating)‘s stock had its “hold” rating reaffirmed by stock analysts at Berenberg Bank in a research report issued on Friday, MarketBeat.com reports. They presently have a GBX 560 ($7.00) target price on the financial services provider’s stock. Berenberg Bank’s price target indicates a potential upside of 12.47% from the stock’s current price.

Several other research firms have also recently issued reports on HSBA. UBS Group set a GBX 640 ($8.00) target price on HSBC in a research note on Tuesday, May 3rd. Shore Capital lowered shares of HSBC to a “hold” rating in a report on Friday, April 22nd. Royal Bank of Canada upped their target price on shares of HSBC from GBX 550 ($6.87) to GBX 590 ($7.37) and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group set a GBX 574 ($7.17) price target on shares of HSBC in a research report on Wednesday, April 27th. Finally, Deutsche Bank Rese… set a GBX 500 ($6.25) price objective on shares of HSBC in a report on Wednesday, April 27th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of GBX 565.25 ($7.06).

LON:HSBA opened at GBX 497.90 ($6.22) on Friday. The company’s 50-day moving average is GBX 507.76 and its two-hundred day moving average is GBX 487.26. HSBC has a 1-year low of GBX 358.45 ($4.48) and a 1-year high of GBX 567.20 ($7.09). The firm has a market capitalization of £100.20 billion and a price-to-earnings ratio of 11.01.

In other news, insider Ewen Stevenson sold 57,884 shares of the stock in a transaction dated Monday, March 14th. The shares were sold at an average price of GBX 488 ($6.10), for a total value 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.

Further Reading

Analyst Recommendations for HSBC (LON:HSBA)

Receive News & Ratings for HSBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HSBC and related companies with MarketBeat.com's FREE daily email newsletter.