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

Citigroup reiterated their top pick rating on shares of HSBC (LON:HSBA) in a research note published on Thursday morning, Marketbeat.com reports.

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 870 ($10.98) price target on shares of HSBC in a research report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of GBX 795 ($10.03).

HSBC Stock Performance

LON:HSBA opened at GBX 766.20 ($9.67) on Thursday. The firm’s fifty day moving average is GBX 710.19 and its two-hundred day moving average is GBX 684.10. The firm has a market cap of £139.37 billion, a price-to-earnings ratio of 860.90, a PEG ratio of 5.97 and a beta of 0.52. HSBC has a one year low of GBX 572.90 ($7.23) and a one year high of GBX 766.20 ($9.67).

HSBC Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a yield of 1.11%. HSBC’s dividend payout ratio is currently 5,393.26%.

Insider Activity

In related news, insider Georges Elhedery bought 41,720 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average price of GBX 718 ($9.06) per share, with a total value of £299,549.60 ($378,075.98). Company insiders own 0.32% of the company’s stock.

HSBC Company Profile

With assets of $3.0tn and operations in 62 countries and territories at 31 December 2022, HSBC is one of the largest banking and financial services organisations in the world. We serve approximately 39 million personal, wealth and corporate customers through three global businesses. We have around 180,000 shareholders in 126 countries and territories.