HSBC (HSBA) Given a GBX 740 Price Target at Morgan Stanley

Morgan Stanley set a GBX 740 ($9.67) target price on HSBC (LON:HSBA) in a research note issued to investors on Monday morning, Borsen Zeitung reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on HSBA. Royal Bank of Canada set a GBX 600 ($7.84) price objective on HSBC and gave the company a sell rating in a research note on Friday, May 10th. UBS Group reissued a neutral rating and issued a GBX 635 ($8.30) price objective (up from GBX 625 ($8.17)) on shares of HSBC in a research note on Friday, May 10th. Barclays set a GBX 600 ($7.84) price objective on HSBC and gave the company a sell rating in a research note on Tuesday, May 7th. Credit Suisse Group reissued a neutral rating and issued a GBX 670 ($8.75) price objective on shares of HSBC in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. set a GBX 620 ($8.10) price objective on HSBC and gave the company a sell rating in a research note on Friday, May 3rd. Seven research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. HSBC currently has an average rating of Hold and a consensus target price of GBX 660.94 ($8.64).

Shares of HSBA opened at GBX 653.40 ($8.54) on Monday. The stock has a market cap of $132.01 billion and a price-to-earnings ratio of 9.47. HSBC has a 12 month low of GBX 596.40 ($7.79) and a 12 month high of GBX 749.90 ($9.80).

The company also recently declared a dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, May 16th will be paid a dividend of $0.10 per share. This represents a yield of 1.15%. The ex-dividend date of this dividend is Thursday, May 16th. HSBC’s dividend payout ratio (DPR) is currently 0.93%.

In related news, insider John Flint sold 72,969 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of GBX 622 ($8.13), for a total transaction of £453,867.18 ($593,057.86). Also, insider Marc Moses sold 146,649 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of GBX 625 ($8.17), for a total value of £916,556.25 ($1,197,643.08). Over the last ninety days, insiders have sold 467,788 shares of company stock worth $292,274,178.

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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