HSBC (LON:HSBA) Reaches New 1-Year High – Here’s What Happened

Shares of HSBC Holdings plc (LON:HSBA) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 730.60 ($9.26) and last traded at GBX 727 ($9.22), with a volume of 238779500 shares changing hands. The stock had previously closed at GBX 727.80 ($9.23).

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 870 ($11.03) target price on shares of HSBC in a report on Wednesday, August 21st. Citigroup reaffirmed a “buy” rating on shares of HSBC in a report on Monday, September 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, HSBC presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 795 ($10.08).

HSBC Stock Performance

The stock has a market capitalization of £130.39 billion, a P/E ratio of 817.75, a PEG ratio of 5.97 and a beta of 0.52. The company’s fifty day simple moving average is GBX 682.68 and its two-hundred day simple moving average is GBX 678.80.

HSBC Dividend Announcement

The business also recently declared a dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, November 7th will be issued a $0.10 dividend. The ex-dividend date is Thursday, November 7th. This represents a yield of 1.11%. HSBC’s dividend payout ratio is currently 5,393.26%.

Insider Buying and Selling at HSBC

In related news, insider Georges Elhedery purchased 41,720 shares of the stock in a transaction on Tuesday, November 5th. The shares were purchased at an average cost of GBX 718 ($9.10) per share, with a total value of £299,549.60 ($379,705.41). Insiders own 0.32% of the company’s stock.

About HSBC

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.