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

HSBC (LON:HSBA)‘s stock had its “buy” rating reissued by equities research analysts at Bank of America in a note issued to investors on Tuesday,Digital Look reports. They presently have a GBX 1,035 ($13.37) price target on the financial services provider’s stock. Bank of America‘s price target suggests a potential upside of 16.48% from the stock’s current price.

Separately, Citigroup upped their price target on HSBC from GBX 960 ($12.40) to GBX 1,070 ($13.83) and gave the company a “buy” rating in a report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, HSBC currently has a consensus rating of “Moderate Buy” and an average price target of GBX 918.75 ($11.87).

HSBC Stock Performance

LON:HSBA opened at GBX 888.60 ($11.48) on Tuesday. The firm has a market cap of £198.39 billion, a P/E ratio of 8.55, a P/E/G ratio of 5.97 and a beta of 0.52. HSBC has a fifty-two week low of GBX 610.89 ($7.89) and a fifty-two week high of GBX 950.20 ($12.28). The firm has a 50-day simple moving average of GBX 863.11 and a two-hundred day simple moving average of GBX 765.79.

Insider Buying and Selling

In other news, insider Pam Kaur sold 45,267 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of GBX 861 ($11.13), for a total value of £389,748.87 ($503,616.58). Also, insider Georges Elhedery sold 43,451 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of GBX 926 ($11.97), for a total value of £402,356.26 ($519,907.30). 0.32% of the stock is currently owned by corporate insiders.

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.