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

Shares of HSBC Holdings plc (LON:HSBA) hit a new 52-week high during trading on Monday . The stock traded as high as GBX 768.30 ($9.77) and last traded at GBX 766.60 ($9.75), with a volume of 173540188 shares. The stock had previously closed at GBX 762.89 ($9.70).

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citigroup reissued a “top pick” rating on shares of HSBC in a report on Thursday, December 12th. Berenberg Bank reiterated a “buy” rating and issued a GBX 870 ($11.06) price objective on shares of HSBC in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 795 ($10.11).

HSBC Stock Performance

The company has a 50-day simple moving average of GBX 711.72 and a 200-day simple moving average of GBX 684.53. The stock has a market cap of £139.72 billion, a P/E ratio of 855.62, a P/E/G ratio of 5.97 and a beta of 0.52.

HSBC Dividend Announcement

The business also recently announced 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 payout ratio is 5,393.26%.

Insider Activity at HSBC

In other news, insider Georges Elhedery acquired 41,720 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average cost of GBX 718 ($9.13) per share, for a total transaction of £299,549.60 ($380,815.66). 0.32% of the stock is currently owned by company insiders.

HSBC Company Profile

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.