HSBC (LON:HSBA) Earns “Neutral” Rating from JPMorgan Chase & Co.
JPMorgan Chase & Co. reiterated their neutral rating on shares of HSBC (LON:HSBA – Get Rating) in a research note published on Monday, Marketbeat Ratings reports. They currently have a GBX 590 ($7.13) price objective on the financial services provider’s stock.
Other equities analysts also recently issued reports about the stock. Citigroup restated a buy rating and set a GBX 700 ($8.46) price objective on shares of HSBC in a research note on Monday, August 8th. UBS Group set a GBX 680 ($8.22) price target on HSBC in a research report on Wednesday, September 7th. Royal Bank of Canada set a GBX 700 ($8.46) price target on HSBC in a research note on Monday. Deutsche Bank Aktiengesellschaft restated a hold rating and issued a GBX 570 ($6.89) price target on shares of HSBC in a research note on Tuesday, August 2nd. Finally, Credit Suisse Group decreased their price target on HSBC from GBX 595 ($7.19) to GBX 590 ($7.13) and set a neutral rating for the company in a research note on Friday, September 30th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of GBX 636.18 ($7.69).
HSBC Trading Down 1.2 %
HSBA opened at GBX 449.05 ($5.43) on Monday. The stock has a market capitalization of £89.67 billion and a P/E ratio of 748.42. HSBC has a 12 month low of GBX 409.85 ($4.95) and a 12 month high of GBX 567.20 ($6.85). The firm’s fifty day simple moving average is GBX 517.27 and its 200 day simple moving average is GBX 519.03.
HSBC Cuts Dividend
The firm also recently announced a dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, August 18th were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, August 18th. This represents a dividend yield of 1.44%. HSBC’s dividend payout ratio is currently 41.99%.
Insider Transactions at HSBC
In other HSBC news, insider Ewen Stevenson bought 34,866 shares of HSBC stock in a transaction dated Monday, August 22nd. The stock was bought at an average cost of GBX 537 ($6.49) per share, for a total transaction of £187,230.42 ($226,232.99).