HSBC’s (HSBA) Buy Rating Reiterated at Bank of America

Bank of America reiterated their buy rating on shares of HSBC (LON:HSBA) in a report released on Tuesday morning, MarketBeat.com reports. They currently have a GBX 1,035 ($13.40) target price on the financial services provider’s stock.

Separately, Citigroup increased their price objective on shares of HSBC from GBX 960 ($12.43) to GBX 1,070 ($13.85) and gave the company a “buy” rating in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 918.75 ($11.89).

HSBC Stock Up 0.2 %

HSBC stock opened at GBX 888.30 ($11.50) on Tuesday. The company’s 50 day moving average is GBX 864.89 and its two-hundred day moving average is GBX 767.34. The firm has a market cap of £198.32 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. HSBC has a 52-week low of GBX 610.89 ($7.91) and a 52-week high of GBX 950.20 ($12.30).

Insider Transactions at HSBC

In other news, insider Georges Elhedery sold 43,451 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of GBX 926 ($11.99), for a total transaction of £402,356.26 ($520,916.96). Also, insider Pam Kaur sold 45,267 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of GBX 861 ($11.15), for a total transaction of £389,748.87 ($504,594.60). 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.