HSBC (LON:HSBA) Sets New 12-Month High – Here’s Why

HSBC Holdings plc (LON:HSBA) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 830.54 ($10.33) and last traded at GBX 829.90 ($10.33), with a volume of 60983668 shares trading hands. The stock had previously closed at GBX 824.20 ($10.26).

Analyst Upgrades and Downgrades

Separately, Citigroup restated a “top pick” rating on shares of HSBC in a report on Thursday, December 12th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, HSBC currently has an average rating of “Buy” and a consensus target price of GBX 795 ($9.89).

HSBC Price Performance

The firm has a market cap of £151.03 billion, a PE ratio of 932.92, a PEG ratio of 5.97 and a beta of 0.52. The stock has a 50 day simple moving average of GBX 770.86 and a 200-day simple moving average of GBX 705.85.

Insider Activity at HSBC

In related news, insider Georges Elhedery bought 41,720 shares of the stock in a transaction on Tuesday, November 5th. The shares were acquired at an average price of GBX 718 ($8.93) per share, for a total transaction of £299,549.60 ($372,713.20). 0.32% of the stock is owned by insiders.

About HSBC

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.