HSBC (LON:HSBA) Hits New 12-Month High at $714.40

HSBC Holdings plc (LON:HSBA)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 714.40 ($8.97) and last traded at GBX 712.55 ($8.95), with a volume of 174189000 shares. The stock had previously closed at GBX 705.50 ($8.86).

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Berenberg Bank lifted their price objective on HSBC from GBX 800 ($10.05) to GBX 830 ($10.43) and gave the company a “buy” rating in a report on Tuesday, April 30th. Barclays reaffirmed an “overweight” rating and set a GBX 800 ($10.05) price objective on shares of HSBC in a report on Thursday, February 29th. Citigroup reaffirmed a “buy” rating and set a GBX 810 ($10.18) price target on shares of HSBC in a report on Wednesday, April 10th. Shore Capital reissued a “buy” rating on shares of HSBC in a research note on Tuesday, April 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of HSBC from GBX 660 ($8.29) to GBX 700 ($8.79) and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, HSBC currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 807.65 ($10.15).

HSBC Price Performance

The stock has a market capitalization of £130.47 billion, a price-to-earnings ratio of 783.48, a price-to-earnings-growth ratio of 5.18 and a beta of 0.58. The stock has a 50-day moving average of GBX 635.46 and a 200 day moving average of GBX 620.74.

HSBC Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, June 21st. Stockholders of record on Thursday, May 9th will be given a dividend of $0.31 per share. This represents a dividend yield of 3.7%. The ex-dividend date is Thursday, May 9th. HSBC’s dividend payout ratio is 5,326.09%.

Insider Buying and Selling

In other HSBC news, insider Noel Quinn sold 89,546 shares of HSBC stock in a transaction on Monday, February 26th. The shares were sold at an average price of GBX 596 ($7.49), for a total transaction of £533,694.16 ($670,470.05). In related news, insider Georges Elhedery sold 28,719 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of GBX 590 ($7.41), for a total value of £169,442.10 ($212,866.96). Also, insider Noel Quinn sold 89,546 shares of HSBC stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of GBX 596 ($7.49), for a total transaction of £533,694.16 ($670,470.05). 0.32% of the stock is currently owned by insiders.

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.