HSBC (LON:HSBA) Sets New 12-Month High – Should You Buy?

HSBC Holdings plc (LON:HSBA)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as GBX 734.30 ($9.25) and last traded at GBX 734 ($9.24), with a volume of 307412031 shares changing hands. The stock had previously closed at GBX 724.55 ($9.12).

Analyst Ratings Changes

Several analysts have weighed in on HSBA shares. Citigroup reiterated a “buy” rating on shares of HSBC in a research note on Monday, September 2nd. Berenberg Bank reaffirmed a “buy” rating and set a GBX 870 ($10.96) target price on shares of HSBC in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 795 ($10.01).

HSBC Price Performance

The company has a market cap of £133.46 billion, a price-to-earnings ratio of 813.93, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The stock has a 50 day simple moving average of GBX 688.35 and a two-hundred day simple moving average of GBX 679.72.

HSBC Dividend Announcement

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

Insider Activity

In other news, insider Georges Elhedery bought 41,720 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average price of GBX 718 ($9.04) per share, with a total value of £299,549.60 ($377,218.99). 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.