HSBC (LON:HSBA) Stock Price Crosses Above 200-Day Moving Average of $643.75

HSBC Holdings plc (LON:HSBA) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 643.75 ($8.14) and traded as high as GBX 695.80 ($8.80). HSBC shares last traded at GBX 688.90 ($8.71), with a volume of 17,510,614 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HSBA shares. Citigroup reaffirmed a “buy” rating and set a GBX 810 ($10.25) price objective on shares of HSBC in a research note on Wednesday, April 10th. JPMorgan Chase & Co. raised their target price on HSBC from GBX 660 ($8.35) to GBX 700 ($8.85) and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Shore Capital reissued a “buy” rating on shares of HSBC in a research note on Tuesday, April 30th. Finally, Berenberg Bank increased their target price on HSBC from GBX 800 ($10.12) to GBX 830 ($10.50) and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 792 ($10.02).

HSBC Trading Down 0.3 %

The firm has a 50 day moving average of GBX 690.27 and a 200-day moving average of GBX 643.75. The company has a market cap of £129.24 billion, a P/E ratio of 757.03, a P/E/G ratio of 5.15 and a beta of 0.56.

HSBC Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, June 21st. Investors of record on Thursday, May 9th were issued a $0.31 dividend. This represents a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, May 9th. HSBC’s dividend payout ratio (DPR) is presently 5,384.62%.

Insider Activity at HSBC

In other news, insider Georges Elhedery bought 26,899 shares of the stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average price of GBX 713 ($9.02) per share, for a total transaction of £191,789.87 ($242,587.74). 0.32% of the stock is owned by insiders.

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.