HSBC (LON:HSBA) Given “Buy” Rating at Citigroup

Citigroup reissued their buy rating on shares of HSBC (LON:HSBA) in a research report released on Monday morning, Marketbeat.com reports.

Separately, Berenberg Bank reiterated a buy rating and issued a GBX 870 ($11.44) price objective on shares of HSBC in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of GBX 800 ($10.52).

HSBC Price Performance

HSBA opened at GBX 665.90 ($8.76) on Monday. The stock’s 50 day simple moving average is GBX 664.59 and its 200 day simple moving average is GBX 657.48. HSBC has a 1 year low of GBX 572.90 ($7.53) and a 1 year high of GBX 725.20 ($9.54). The firm has a market cap of £122.46 billion, a price-to-earnings ratio of 756.70, a PEG ratio of 4.89 and a beta of 0.56.

HSBC Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, August 15th will be paid a $0.10 dividend. This represents a dividend yield of 1.15%. The ex-dividend date is Thursday, August 15th. HSBC’s payout ratio is presently 5,454.55%.

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.