HSBC (LON:HSBA) Given a GBX 575 Price Target by Credit Suisse Group Analysts

Credit Suisse Group set a GBX 575 ($7.05) price objective on HSBC (LON:HSBAGet Rating) in a report issued on Tuesday, Borsen Zeitung reports.

Several other research firms have also commented on HSBA. Shore Capital reissued a hold rating on shares of HSBC in a report on Monday. Deutsche Bank Aktiengesellschaft restated a hold rating and set a GBX 570 ($6.98) price objective on shares of HSBC in a research report on Tuesday. Jefferies Financial Group set a GBX 574 ($7.03) price objective on shares of HSBC in a research report on Wednesday, April 27th. Morgan Stanley restated an equal weight rating on shares of HSBC in a research report on Wednesday, May 11th. Finally, UBS Group set a GBX 635 ($7.78) price objective on shares of HSBC in a research report on Monday, July 11th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of GBX 618.30 ($7.58).

HSBC Stock Performance

LON:HSBA opened at GBX 534 ($6.54) on Tuesday. HSBC has a 52 week low of GBX 358.45 ($4.39) and a 52 week high of GBX 567.20 ($6.95). The firm has a market cap of ¬£107.06 billion and a price-to-earnings ratio of 1,113.33. The firm’s 50-day simple moving average is GBX 526.71 and its 200 day simple moving average is GBX 519.67.

HSBC Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, August 18th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a dividend yield of 1.44%. HSBC’s dividend payout ratio (DPR) is presently 52.49%.

Insider Transactions at HSBC

In related news, insider Carolyn Fairbairn acquired 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The stock was acquired at an average cost of GBX 501 ($6.14) per share, for a total transaction of ¬£75,150 ($92,084.30).

About HSBC

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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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Analyst Recommendations for HSBC (LON:HSBA)

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