Royal Bank of Canada Reiterates GBX 580 Price Target for HSBC (LON:HSBA)

Royal Bank of Canada set a GBX 580 ($7.58) price target on HSBC (LON:HSBA) in a research note published on Monday, Borsen Zeitung reports. The brokerage currently has a sell rating on the financial services provider’s stock.

A number of other research firms have also recently weighed in on HSBA. JPMorgan Chase & Co. set a GBX 600 ($7.84) price objective on shares of HSBC and gave the company a sell rating in a report on Monday, October 28th. Deutsche Bank reaffirmed a sell rating and issued a GBX 520 ($6.79) price objective (down previously from GBX 560 ($7.32)) on shares of HSBC in a report on Monday, October 28th. Societe Generale reaffirmed a hold rating on shares of HSBC in a report on Tuesday, September 10th. UBS Group reaffirmed a neutral rating and issued a GBX 600 ($7.84) price objective on shares of HSBC in a report on Monday, October 28th. Finally, Goldman Sachs Group set a GBX 905 ($11.83) price objective on shares of HSBC and gave the company a buy rating in a report on Monday, October 28th. Eight equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. HSBC has a consensus rating of Hold and an average price target of GBX 612.93 ($8.01).

HSBA traded up GBX 3.40 ($0.04) on Monday, reaching GBX 573.70 ($7.50). The stock had a trading volume of 25,933,282 shares, compared to its average volume of 26,590,000. HSBC has a 12-month low of GBX 6.30 ($0.08) and a 12-month high of GBX 687.70 ($8.99). The business’s 50-day moving average price is GBX 602.99 and its two-hundred day moving average price is GBX 633.05. The company has a market cap of $115.83 billion and a P/E ratio of 8.91.

The business also recently announced a dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, October 10th. This represents a dividend yield of 1.35%. HSBC’s dividend payout ratio is currently 0.50%.

In other HSBC news, insider Marc Moses acquired 21,465 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average price of GBX 586 ($7.66) per share, with a total value of £125,784.90 ($164,360.25).

HSBC Company Profile

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

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Analyst Recommendations for HSBC (LON:HSBA)

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