HSBC (LON:HSBA) Stock Price Crosses Above 200 Day Moving Average of $659.79

HSBC Holdings plc (LON:HSBA) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 659.79 ($8.72) and traded as high as GBX 668 ($8.82). HSBC shares last traded at GBX 661.80 ($8.74), with a volume of 22,588,742 shares.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HSBA. Citigroup reissued a “buy” rating on shares of HSBC in a report on Monday, September 2nd. Berenberg Bank reissued a “buy” rating and set a GBX 870 ($11.49) target price on shares of HSBC in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 795 ($10.50).

HSBC Stock Performance

The business has a fifty day simple moving average of GBX 658.57 and a 200 day simple moving average of GBX 659.79. The stock has a market cap of £121.44 billion, a price-to-earnings ratio of 752.05, a PEG ratio of 4.85 and a beta of 0.52.

HSBC Cuts Dividend

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

About HSBC

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.