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

HSBC Holdings plc (LON:HSBA) shares reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 787.30 ($9.82) and last traded at GBX 784.58 ($9.79), with a volume of 429117250 shares trading hands. The stock had previously closed at GBX 776 ($9.68).

Wall Street Analysts Forecast Growth

Separately, Citigroup reiterated a “top pick” rating on shares of HSBC in a report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of GBX 795 ($9.92).

HSBC Stock Performance

The firm has a market capitalization of £144.12 billion, a P/E ratio of 890.22, a P/E/G ratio of 5.97 and a beta of 0.52. The stock’s 50 day simple moving average is GBX 740.96 and its 200 day simple moving average is GBX 693.57.

HSBC Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, November 7th. This represents a yield of 1.11%. HSBC’s payout ratio is currently 5,393.26%.

Insider Buying and Selling at HSBC

In other HSBC news, insider Georges Elhedery bought 41,720 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were bought at an average cost of GBX 718 ($8.96) per share, for a total transaction of £299,549.60 ($373,689.62). 0.32% of the stock is currently owned by corporate 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.