HSBC (LON:HSBA) Given “Neutral” Rating at Credit Suisse Group

Credit Suisse Group restated their neutral rating on shares of HSBC (LON:HSBA) in a research report sent to investors on Thursday, Borsen Zeitung reports. Credit Suisse Group currently has a GBX 670 ($8.75) target price on the financial services provider’s stock.

HSBA has been the subject of several other research reports. Jefferies Financial Group reissued a buy rating and set a GBX 850 ($11.11) target price on shares of HSBC in a report on Tuesday, February 19th. UBS Group reissued a neutral rating and set a GBX 665 ($8.69) target price on shares of HSBC in a report on Tuesday, February 19th. Deutsche Bank reduced 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 report on Friday, March 1st. Barclays set a GBX 620 ($8.10) target price on shares of HSBC and gave the stock a sell rating in a report on Monday, April 8th. Finally, Morgan Stanley set a GBX 740 ($9.67) target price on shares of HSBC and gave the stock a buy rating in a report on Monday, May 13th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. HSBC has an average rating of Hold and an average price target of GBX 673.33 ($8.80).

Shares of HSBC stock opened at GBX 645.60 ($8.44) on Thursday. HSBC has a 1 year low of GBX 596.40 ($7.79) and a 1 year high of GBX 739.10 ($9.66). The firm has a market cap of $130.30 billion and a P/E ratio of 9.36.

The company also recently disclosed a dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, May 16th will be issued a $0.10 dividend. The ex-dividend date is Thursday, May 16th. This represents a yield of 1.15%. HSBC’s payout ratio is 0.45%.

In other HSBC news, insider Marc Moses sold 146,649 shares of HSBC stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of GBX 625 ($8.17), for a total value of £916,556.25 ($1,197,643.08).

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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