HSBC (LON:HSBA) Reaches New 1-Year High – Here’s Why

HSBC Holdings plc (LON:HSBA)’s share price reached a new 52-week high during trading on Monday . The company traded as high as GBX 768.30 ($9.70) and last traded at GBX 766.60 ($9.68), with a volume of 173540188 shares changing hands. The stock had previously closed at GBX 762.89 ($9.63).

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Berenberg Bank reiterated a “buy” rating and set a GBX 870 ($10.98) target price on shares of HSBC in a research report on Wednesday, August 21st. Citigroup restated a “top pick” rating on shares of HSBC in a research report on Thursday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of GBX 795 ($10.04).

HSBC Price Performance

The stock has a market capitalization of £139.44 billion, a price-to-earnings ratio of 860.90, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The stock has a 50 day moving average price of GBX 710.19 and a 200-day moving average price of GBX 684.04.

HSBC Announces Dividend

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

Insider Activity

In related news, insider Georges Elhedery purchased 41,720 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average price of GBX 718 ($9.07) per share, with a total value of £299,549.60 ($378,219.19). Company insiders own 0.32% of the company’s stock.

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.