HSBC (LON:HSBA) Reaches New 12-Month High – What’s Next?

HSBC Holdings plc (LON:HSBA)’s stock price hit a new 52-week high during mid-day 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. The stock had previously closed at GBX 762.89 ($9.63).

Wall Street Analysts Forecast Growth

HSBA has been the topic of a number of recent analyst reports. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 870 ($10.98) target price on shares of HSBC in a research report on Wednesday, August 21st. Citigroup reissued a “top pick” rating on shares of HSBC in a research note on Thursday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of GBX 795 ($10.04).

HSBC Stock Performance

The company has a 50 day moving average of GBX 710.19 and a 200-day moving average of GBX 684.04. The stock has a market cap 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.

HSBC Announces Dividend

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

Insider Activity at HSBC

In related news, insider Georges Elhedery purchased 41,720 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were bought at an average price of GBX 718 ($9.07) per share, for a total transaction 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.