HSBC (LON:HSBA) Hits New 52-Week High – Time to Buy?

HSBC Holdings plc (LON:HSBA) shares reached a new 52-week high during trading on Monday . The stock traded as high as GBX 734.30 ($9.23) and last traded at GBX 734 ($9.23), with a volume of 307412031 shares traded. The stock had previously closed at GBX 724.55 ($9.11).

Analyst Ratings Changes

A number of equities analysts have recently commented on HSBA shares. Berenberg Bank reiterated a “buy” rating and issued a GBX 870 ($10.94) target price on shares of HSBC in a report on Wednesday, August 21st. Citigroup reaffirmed a “buy” rating on shares of HSBC in a research note on Monday, September 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of GBX 795 ($9.99).

HSBC Price Performance

The stock has a market cap of £133.46 billion, a P/E ratio of 823.15, a PEG ratio of 5.97 and a beta of 0.52. The business has a 50 day moving average price of GBX 691.40 and a 200 day moving average price of GBX 680.29.

HSBC Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, November 7th will be given a $0.10 dividend. This represents a yield of 1.11%. The ex-dividend date is Thursday, November 7th. HSBC’s dividend payout ratio (DPR) is presently 5,393.26%.

Insider Transactions at HSBC

In other news, insider Georges Elhedery acquired 41,720 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of GBX 718 ($9.03) per share, with a total value of £299,549.60 ($376,555.12). Corporate insiders own 0.32% of the company’s stock.

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.