HSBC (HSBA) Earns “Underweight” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of HSBC (LON:HSBA) in a report published on Tuesday morning, Borsen Zeitung reports. They currently have a GBX 620 ($8.10) target price on the financial services provider’s stock.

Several other equities research analysts also recently commented on the stock. Jefferies Financial Group reissued a buy rating and set a GBX 850 ($11.11) target price on shares of HSBC in a research report on Tuesday, February 19th. Goldman Sachs Group set a GBX 815 ($10.65) target price on shares of HSBC and gave the stock a neutral rating in a research report on Thursday, January 17th. Barclays reissued an underweight rating on shares of HSBC in a research report on Tuesday, January 29th. Deutsche Bank decreased their target price on shares of HSBC from GBX 560 ($7.32) to GBX 513 ($6.70) and set a sell rating for the company in a research report on Friday, March 1st. Finally, Credit Suisse Group boosted their target price on shares of HSBC from GBX 655 ($8.56) to GBX 670 ($8.75) and gave the stock a neutral rating in a research report on Wednesday, April 24th. Seven analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of GBX 660.94 ($8.64).

LON:HSBA opened at GBX 654.70 ($8.55) on Tuesday. The stock has a market cap of $132.13 billion and a PE ratio of 9.49. HSBC has a one year low of GBX 596.40 ($7.79) and a one year high of GBX 749.90 ($9.80).

The company also recently disclosed a dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, May 16th will be given a $0.10 dividend. This represents a yield of 1.15%. The ex-dividend date of this dividend is Thursday, May 16th. HSBC’s payout ratio is 0.93%.

In other HSBC news, insider John Flint sold 24,517 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of GBX 621 ($8.11), for a total value of £152,250.57 ($198,942.34). Also, insider Marc Moses sold 146,649 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of GBX 625 ($8.17), for a total transaction of £916,556.25 ($1,197,643.08). Insiders sold a total of 467,788 shares of company stock valued at $292,274,178 over the last ninety days.

About HSBC

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

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Analyst Recommendations for HSBC (LON:HSBA)

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