HSBC (LON:HSBA) Reaches New 1-Year High – Time to Buy?

HSBC Holdings plc (LON:HSBA) reached a new 52-week high on Wednesday . The company traded as high as GBX 787.30 ($9.82) and last traded at GBX 784.58 ($9.79), with a volume of 429117250 shares traded. The stock had previously closed at GBX 776 ($9.68).

Analysts Set New Price Targets

Separately, Citigroup reissued a “top pick” rating on shares of HSBC in a research note on Thursday, December 12th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, HSBC presently has a consensus rating of “Buy” and an average target price of GBX 795 ($9.92).

HSBC Trading Up 2.1 %

The firm’s 50 day simple moving average is GBX 740.96 and its 200 day simple moving average is GBX 693.57. The firm has a market cap of £144.12 billion, a PE ratio of 890.22, a PEG ratio of 5.97 and a beta of 0.52.

HSBC Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, November 7th were paid a $0.10 dividend. This represents a yield of 1.11%. The ex-dividend date was Thursday, November 7th. HSBC’s payout ratio is 5,393.26%.

Insider Activity

In other news, insider Georges Elhedery acquired 41,720 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was bought at an average cost of GBX 718 ($8.96) per share, with a total value of £299,549.60 ($373,689.62). Corporate insiders own 0.32% of the company’s stock.

HSBC Company Profile

With assets of $3.0tn and operations in 62 countries and territories at 31 December 2022, HSBC is one of the largest banking and financial services organisations in the world. We serve approximately 39 million personal, wealth and corporate customers through three global businesses. We have around 180,000 shareholders in 126 countries and territories.