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

Bank of America reaffirmed their buy rating on shares of HSBC (LON:HSBA) in a research report released on Friday morning, Marketbeat Ratings reports. Bank of America currently has a GBX 1,035 ($13.38) target price on the financial services provider’s stock.

Separately, Citigroup boosted their price objective on HSBC from GBX 960 ($12.41) to GBX 1,070 ($13.83) and gave the stock a “buy” rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 918.75 ($11.88).

HSBC Trading Up 2.0 %

HSBA stock opened at GBX 870 ($11.25) on Friday. The stock has a 50-day moving average price of GBX 851.80 and a 200-day moving average price of GBX 756.24. HSBC has a 1-year low of GBX 584.90 ($7.56) and a 1-year high of GBX 950.20 ($12.28). The firm has a market cap of £194.24 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52.

Insider Activity

In other HSBC news, insider Pam Kaur sold 45,267 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of GBX 861 ($11.13), for a total value of £389,748.87 ($503,811.88). Also, insider Georges Elhedery sold 43,451 shares of HSBC stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of GBX 926 ($11.97), for a total transaction of £402,356.26 ($520,108.92). 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.