HSBC (LON:HSBA) Price Target Raised to GBX 700

HSBC (LON:HSBA) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from GBX 660 ($8.29) to GBX 700 ($8.79) in a research report issued on Thursday, Digital Look reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 1.14% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on HSBA. Citigroup reissued a “buy” rating and set a GBX 810 ($10.17) target price on shares of HSBC in a report on Wednesday, April 10th. Shore Capital reaffirmed a “buy” rating on shares of HSBC in a report on Tuesday. Berenberg Bank raised their price objective on shares of HSBC from GBX 800 ($10.05) to GBX 830 ($10.43) and gave the company a “buy” rating in a research report on Tuesday. Finally, Barclays reaffirmed an “overweight” rating and issued a GBX 800 ($10.05) price target on shares of HSBC in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, HSBC currently has an average rating of “Moderate Buy” and an average price target of GBX 831.69 ($10.45).

HSBC Trading Up 1.5 %

Shares of LON:HSBA traded up GBX 10.60 ($0.13) during mid-day trading on Thursday, reaching GBX 708.10 ($8.89). The company had a trading volume of 199,636,009 shares, compared to its average volume of 30,593,387. The company’s 50-day moving average price is GBX 626.61 and its 200-day moving average price is GBX 619.08. HSBC has a one year low of GBX 572.90 ($7.20) and a one year high of GBX 712.30 ($8.95). The firm has a market cap of £133.76 billion, a price-to-earnings ratio of 780.44, a PEG ratio of 0.45 and a beta of 0.58.

Insider Transactions at HSBC

In related news, insider Georges Elhedery sold 28,719 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.41), for a total value of £169,442.10 ($212,840.22). In other HSBC news, 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 ($7.49), for a total transaction of £533,694.16 ($670,385.83). Also, insider Georges Elhedery sold 28,719 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.41), for a total transaction of £169,442.10 ($212,840.22). Insiders own 0.36% of the company’s stock.

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.