HSBC (LON:HSBA) Upgraded to “Hold” at Shore Capital Group

HSBC (LON:HSBA) was upgraded by equities researchers at Shore Capital Group to a “hold” rating in a research report issued to clients and investors on Thursday,London Stock Exchange reports. The firm currently has a GBX 1,250 target price on the financial services provider’s stock, up from their previous target price of GBX 1,210. Shore Capital Group’s price target suggests a potential downside of 6.03% from the stock’s current price.

Other analysts have also issued research reports about the company. HSBC restated a “hold” rating and issued a GBX 1,450 target price on shares of HSBC in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of HSBC from GBX 1,050 to GBX 1,200 and gave the company a “hold” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. upped their price target on shares of HSBC from GBX 1,190 to GBX 1,360 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. UBS Group reissued a “neutral” rating and issued a GBX 1,419 price objective on shares of HSBC in a research note on Tuesday. Finally, Jefferies Financial Group reiterated a “hold” rating and set a GBX 1,120 price objective on shares of HSBC in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of GBX 1,271.13.

HSBC Trading Down 1.0%

LON HSBA traded down GBX 13.20 during mid-day trading on Thursday, reaching GBX 1,330.20. 254,818,781 shares of the company’s stock traded hands, compared to its average volume of 27,822,891. The company has a fifty day simple moving average of GBX 1,281.17 and a 200-day simple moving average of GBX 1,198.31. HSBC has a 1-year low of GBX 835.30 and a 1-year high of GBX 1,410.60. The company has a market cap of £228.11 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 5.97 and a beta of 1.33.

Insider Activity at HSBC

In other news, insider Pam Kaur sold 81,967 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of GBX 1,280, for a total value of £1,049,177.60. Also, insider Georges Elhedery bought 842,628 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were purchased at an average price of GBX 1,282 per share, for a total transaction of £10,802,490.96. Insiders sold a total of 242,798 shares of company stock worth $308,402,488 in the last quarter. Company insiders own 0.14% of the company’s stock.

HSBC Company Profile