HSBC (LON:HSBA) Stock Passes Above 200-Day Moving Average of $618.02

HSBC Holdings plc (LON:HSBA) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 618.02 ($7.69) and traded as high as GBX 645.60 ($8.04). HSBC shares last traded at GBX 644.60 ($8.02), with a volume of 29,092,268 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup reaffirmed a “buy” rating and set a GBX 810 ($10.08) target price on shares of HSBC in a report on Wednesday, April 10th. Barclays restated an “overweight” rating and set a GBX 800 ($9.96) price objective on shares of HSBC in a report on Thursday, February 29th. JPMorgan Chase & Co. increased their target price on HSBC from GBX 600 ($7.47) to GBX 660 ($8.22) and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Shore Capital reissued a “buy” rating on shares of HSBC in a report on Tuesday, April 9th. Finally, Berenberg Bank decreased their price objective on HSBC from GBX 820 ($10.21) to GBX 800 ($9.96) and set a “buy” rating on the stock in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 822.94 ($10.24).

HSBC Stock Up 0.2 %

The stock has a 50 day moving average of GBX 618.45 and a 200 day moving average of GBX 618.06. The firm has a market cap of £122.07 billion, a price-to-earnings ratio of 710.11, a P/E/G ratio of 0.45 and a beta of 0.58.

HSBC Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, April 25th. Stockholders of record on Thursday, March 7th will be given a $0.31 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This is a boost from HSBC’s previous dividend of $0.10. This represents a dividend yield of 3.81%. HSBC’s payout ratio is presently 5,274.73%.

Insider Buying and Selling

In other news, insider Noel Quinn sold 89,546 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of GBX 596 ($7.42), for a total value of £533,694.16 ($664,377.14). In other news, insider Georges Elhedery sold 28,719 shares of HSBC stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.34), for a total transaction of £169,442.10 ($210,932.53). Also, insider Noel Quinn sold 89,546 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of GBX 596 ($7.42), for a total value of £533,694.16 ($664,377.14). 0.36% of the stock is currently owned by company insiders.

About HSBC

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.