HSBC (LON:HSBA) Share Price Passes Above 200 Day Moving Average – Time to Sell?

HSBC Holdings plc (LON:HSBA) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 672.29 ($8.73) and traded as high as GBX 687.40 ($8.92). HSBC shares last traded at GBX 682.10 ($8.86), with a volume of 11,429,031 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HSBA shares. Berenberg Bank reiterated a “buy” rating and issued a GBX 870 ($11.30) price objective on shares of HSBC in a report on Wednesday, August 21st. Citigroup reiterated a “buy” rating on shares of HSBC in a report on Monday, September 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 795 ($10.32).

HSBC Price Performance

The stock has a market capitalization of £124.07 billion, a price-to-earnings ratio of 766.40, a PEG ratio of 5.97 and a beta of 0.52. The business has a 50 day simple moving average of GBX 666.80 and a 200-day simple moving average of GBX 672.29.

HSBC Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, August 15th were paid a $0.10 dividend. The ex-dividend date was Thursday, August 15th. This represents a yield of 1.15%. HSBC’s payout ratio is 5,393.26%.

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.