UBS Group Reiterates Neutral Rating for HSBC (LON:HSBA)

Key Points

• UBS Group reiterated a neutral rating on HSBC with a GBX 1,419 price target, implying roughly a 10.98% upside from the prior close.
• Market consensus is a Hold (1 Buy, 5 Hold, 1 Sell) with an average target of GBX 1,219.86; HSBC was trading around GBX 1,278.60 and was down about 4.8% on the day.
• Insiders have been net sellers, offloading 242,798 shares valued at about $308.4 million over the last 90 days, and now own just 0.14% of the company.

HSBC (LON:HSBA - Get Free Report)'s stock had its "neutral" rating reiterated by equities researchers at UBS Group in a note issued to investors on Tuesday,Digital Look reports. They presently have a GBX 1,419 target price on the financial services provider's stock. UBS Group's price objective would suggest a potential upside of 10.98% from the stock's previous close.

HSBA has been the subject of a number of other reports. Jefferies Financial Group reiterated a "hold" rating and set a GBX 1,120 target price on shares of HSBC in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price 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. Citigroup boosted their target price on shares of HSBC from GBX 1,240 to GBX 1,320 and gave the company a "buy" rating in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of HSBC from GBX 1,050 to GBX 1,200 and gave the company a "hold" rating in a research note on Friday, January 23rd. Finally, Shore Capital Group upgraded shares of HSBC to a "sell" rating in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of GBX 1,219.86.

HSBC Trading Down 4.8%

HSBA stock opened at GBX 1,278.60 on Tuesday. The stock has a market capitalization of £219.26 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 5.97 and a beta of 0.56. HSBC has a 12-month low of GBX 833.40 and a 12-month high of GBX 1,410.60. The stock's 50 day simple moving average is GBX 1,280.43 and its 200 day simple moving average is GBX 1,193.77.

Insider Buying and Selling at HSBC

In other news, insider Pam Kaur sold 81,967 shares of the company's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of GBX 1,280, for a total value of £1,049,177.60. Also, insider Georges Elhedery sold 94,749 shares of the company's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of GBX 1,280, for a total value of £1,212,787.20. Insiders sold a total of 242,798 shares of company stock valued at $308,402,488 over the last 90 days. 0.14% of the stock is currently owned by company insiders.

About HSBC

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