HSBC (LON:HSBA) Earns “Top Pick” Rating from Citigroup

Citigroup reaffirmed their top pick rating on shares of HSBC (LON:HSBA) in a research note released on Monday morning, MarketBeat Ratings reports.

A number of other research firms have also recently issued reports on HSBA. JPMorgan Chase & Co. increased their price target on HSBC from GBX 660 ($8.45) to GBX 700 ($8.97) and gave the stock a neutral rating in a report on Thursday, May 2nd. Berenberg Bank increased their target price on HSBC from GBX 800 ($10.25) to GBX 830 ($10.63) and gave the stock a buy rating in a report on Tuesday, April 30th. Finally, Shore Capital reiterated a buy rating on shares of HSBC in a report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, HSBC presently has an average rating of Moderate Buy and a consensus price target of GBX 792 ($10.14).

HSBC Stock Performance

HSBC stock opened at GBX 670.50 ($8.59) on Monday. The stock has a market capitalization of £125.79 billion, a price-to-earnings ratio of 736.81, a PEG ratio of 5.15 and a beta of 0.56. HSBC has a 52-week low of GBX 572.90 ($7.34) and a 52-week high of GBX 725.20 ($9.29). The stock’s 50 day moving average price is GBX 690.91 and its two-hundred day moving average price is GBX 646.55.

HSBC Announces Dividend

The company also recently announced a dividend, which was paid on Friday, June 21st. Investors of record on Thursday, May 9th were issued a $0.31 dividend. This represents a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, May 9th. HSBC’s dividend payout ratio is currently 5,384.62%.

Insider Buying and Selling at HSBC

In related news, insider Georges Elhedery acquired 26,899 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were acquired at an average cost of GBX 713 ($9.13) per share, for a total transaction of £191,789.87 ($245,663.98). Company insiders own 0.32% of the company’s stock.

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.