Bank of America Reaffirms “Buy” Rating for HSBC (LON:HSBA)

HSBC (LON:HSBA)‘s stock had its “buy” rating reissued by Bank of America in a research report issued on Friday,Digital Look reports. They currently have a GBX 1,035 ($13.41) price objective on the financial services provider’s stock. Bank of America‘s price objective indicates a potential upside of 20.25% from the company’s previous close.

Separately, Citigroup upped their price objective on shares of HSBC from GBX 960 ($12.44) to GBX 1,070 ($13.86) and gave the stock a “buy” rating in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, HSBC presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 918.75 ($11.90).

HSBC Stock Performance

Shares of HSBC stock opened at GBX 860.70 ($11.15) on Friday. The company has a market cap of £192.16 billion, a P/E ratio of 8.28, a PEG ratio of 5.97 and a beta of 0.52. HSBC has a one year low of GBX 584.90 ($7.58) and a one year high of GBX 950.20 ($12.31). The firm has a fifty day moving average of GBX 850.04 and a two-hundred day moving average of GBX 754.08.

Insider Activity

In related news, insider Pam Kaur sold 45,267 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of GBX 861 ($11.15), for a total value of £389,748.87 ($504,856.05). Also, insider Georges Elhedery sold 43,451 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of GBX 926 ($11.99), for a total transaction of £402,356.26 ($521,186.87). Insiders own 0.32% of the company’s stock.

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.