Shore Capital Reiterates "Buy" Rating for HSBC (LON:HSBA)

Shore Capital reaffirmed their buy rating on shares of HSBC (LON:HSBA - Free Report) in a report released on Tuesday morning, MarketBeat reports.

A number of other brokerages have also issued reports on HSBA. Berenberg Bank decreased their target price on HSBC from GBX 820 ($10.38) to GBX 800 ($10.13) and set a buy rating on the stock in a research report on Wednesday, February 21st. Barclays reiterated an overweight rating and set a GBX 800 ($10.13) target price on shares of HSBC in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of GBX 820.51 ($10.38).

HSBC Trading Up 0.0 %

HSBC stock traded up GBX 0.20 ($0.00) during mid-day trading on Tuesday, hitting GBX 644.70 ($8.16). The company had a trading volume of 36,256,682 shares, compared to its average volume of 29,032,867. HSBC has a 12-month low of GBX 558.30 ($7.07) and a 12-month high of GBX 665.60 ($8.42). The company's fifty day moving average is GBX 613.97 and its 200-day moving average is GBX 617.43. The company has a market capitalization of £122.17 billion, a price-to-earnings ratio of 716.33, a P/E/G ratio of 0.45 and a beta of 0.58.

HSBC Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, April 25th. Investors of record on Thursday, March 7th will be paid a $0.31 dividend. This is an increase from HSBC's previous dividend of $0.10. This represents a yield of 3.81%. The ex-dividend date is Thursday, March 7th. HSBC's dividend payout ratio is currently 5,333.33%.

Insider Activity at HSBC

In related news, insider Georges Elhedery sold 28,719 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.47), for a total value of £169,442.10 ($214,456.52). In other HSBC news, insider Noel Quinn sold 89,546 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of GBX 596 ($7.54), for a total value of £533,694.16 ($675,476.72). Also, insider Georges Elhedery sold 28,719 shares of the firm's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.47), for a total value of £169,442.10 ($214,456.52). 0.35% of the stock is owned by corporate insiders.

HSBC Company Profile

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.