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

HSBC Holdings plc (LON:HSBA) shares 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.

Wall Street Analyst Weigh In

HSBA has been the topic of a number of analyst reports. Citigroup reissued a “buy” rating on shares of HSBC in a report on Monday, September 2nd. Berenberg Bank reiterated a “buy” rating and set a GBX 870 ($11.30) price objective on shares of HSBC in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 795 ($10.32).

HSBC Stock Performance

The company’s 50 day simple moving average is GBX 667.44 and its 200-day simple moving average is GBX 672.79. The firm has a market capitalization of £124.07 billion, a PE ratio of 766.40, a PEG ratio of 5.97 and a beta of 0.52.

HSBC Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, September 27th. Investors of record on Thursday, August 15th were given a $0.10 dividend. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 1.15%. HSBC’s dividend payout ratio (DPR) is presently 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.