HSBC (LON:HSBA) Receives Buy Rating from Citigroup

HSBC (LON:HSBA - Get Free Report)'s stock had its "buy" rating reiterated by Citigroup in a report released on Wednesday, Marketbeat reports. They presently have a GBX 810 ($10.25) target price on the financial services provider's stock. Citigroup's price objective would suggest a potential upside of 22.14% from the company's current price.

HSBA has been the subject of several other research reports. Barclays restated an "overweight" rating and issued a GBX 800 ($10.13) price target on shares of HSBC in a report on Thursday, February 29th. Shore Capital reiterated a "buy" rating on shares of HSBC in a report on Tuesday. Finally, Berenberg Bank dropped their price objective on HSBC from GBX 820 ($10.38) to GBX 800 ($10.13) and set a "buy" rating for the company in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, HSBC has a consensus rating of "Moderate Buy" and a consensus target price of GBX 819.19 ($10.37).

HSBC Trading Up 2.9 %

Shares of HSBC stock traded up GBX 18.50 ($0.23) during trading hours on Wednesday, reaching GBX 663.20 ($8.39). 43,761,348 shares of the company's stock were exchanged, compared to its average volume of 29,186,076. HSBC has a 52-week low of GBX 558.30 ($7.07) and a 52-week high of GBX 665.60 ($8.42). The company has a fifty day moving average of GBX 614.87 and a 200-day moving average of GBX 617.75. The firm has a market capitalization of £125.68 billion, a price-to-earnings ratio of 736.89, a price-to-earnings-growth ratio of 0.45 and a beta of 0.58.

Insider Buying and Selling

In other HSBC news, insider Georges Elhedery sold 28,719 shares of the firm's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of GBX 590 ($7.47), for a total transaction of £169,442.10 ($214,456.52). In other news, insider Noel Quinn sold 89,546 shares of the company'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 business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.47), for a total transaction of £169,442.10 ($214,456.52). Corporate insiders own 0.35% 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.