HSBC Holdings plc’s (HSBA) “Hold” Rating Reiterated at Berenberg Bank
HSBC Holdings plc (LON:HSBA)‘s stock had its “hold” rating reaffirmed by investment analysts at Berenberg Bank in a report released on Wednesday. They presently have a GBX 600 ($8.09) target price on the financial services provider’s stock. Berenberg Bank’s price objective would indicate a potential downside of 17.01% from the company’s current price.
A number of other brokerages have also issued reports on HSBA. Morgan Stanley raised shares of HSBC Holdings plc to an “overweight” rating and increased their price objective for the company from GBX 745 ($10.04) to GBX 850 ($11.46) in a report on Thursday, June 29th. Goldman Sachs Group, Inc. (The) set a GBX 740 ($9.98) price objective on shares of HSBC Holdings plc and gave the company a “neutral” rating in a report on Friday, June 16th. Credit Suisse Group reaffirmed a “neutral” rating and set a GBX 630 ($8.49) price objective on shares of HSBC Holdings plc in a report on Friday, June 30th. UBS AG set a GBX 725 ($9.77) price objective on shares of HSBC Holdings plc and gave the company a “neutral” rating in a report on Friday, August 18th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a GBX 690 ($9.30) price objective on shares of HSBC Holdings plc in a report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of GBX 702.90 ($9.48).
Shares of HSBC Holdings plc (LON HSBA) traded down 0.55% during midday trading on Wednesday, reaching GBX 723.00. 14,146,397 shares of the company’s stock traded hands. The stock’s 50-day moving average price is GBX 742.94 and its 200 day moving average price is GBX 695.97. HSBC Holdings plc has a one year low of GBX 518.17 and a one year high of GBX 772.00. The firm’s market capitalization is GBX 146.55 billion.
In other HSBC Holdings plc news, insider Jonathan Symonds bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average cost of GBX 766 ($10.33) per share, for a total transaction of £76,600 ($103,276.26). Also, insider Stuart Thomson Gulliver sold 138,143 shares of HSBC Holdings plc stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of GBX 732 ($9.87), for a total value of £1,011,206.76 ($1,363,363.57). Over the last 90 days, insiders purchased 27,145 shares of company stock valued at $20,295,156.
About HSBC Holdings plc
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.
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