Morgan Stanley set a GBX 540 ($7.06) price target on HSBC (LON:HSBA) in a research note published on Wednesday morning, Borsen Zeitung reports. The brokerage currently has a sell rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on HSBA. Deutsche Bank cut their price objective on HSBC from GBX 540 ($7.06) to GBX 520 ($6.79) and set a sell rating for the company in a report on Friday, September 6th. Goldman Sachs Group set a GBX 915 ($11.96) price objective on HSBC and gave the company a buy rating in a report on Friday, October 4th. Shore Capital restated a hold rating on shares of HSBC in a research note on Friday, September 13th. Credit Suisse Group set a GBX 680 ($8.89) target price on HSBC and gave the company a neutral rating in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. restated an underweight rating and issued a GBX 620 ($8.10) target price on shares of HSBC in a research note on Tuesday, September 17th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of GBX 647.27 ($8.46).

Shares of LON HSBA opened at GBX 599.20 ($7.83) on Wednesday. The stock has a market cap of $121.40 billion and a PE ratio of 8.67. The business has a fifty day moving average of GBX 605.36 and a two-hundred day moving average of GBX 640.17. HSBC has a 52-week low of GBX 6.30 ($0.08) and a 52-week high of GBX 687.70 ($8.99).

The company also recently disclosed a dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 10th will be given a $0.10 dividend. The ex-dividend date is Thursday, October 10th. This represents a yield of 1.35%. HSBC’s payout ratio is 0.48%.

In other news, insider Marc Moses acquired 21,465 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of GBX 586 ($7.66) per share, for a total transaction of £125,784.90 ($164,360.25).

About HSBC

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

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Analyst Recommendations for HSBC (LON:HSBA)

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