HSBC (LON:HSBA) Hits 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 Wednesday . The stock traded as high as GBX 787.30 ($9.69) and last traded at GBX 784.58 ($9.65), with a volume of 429117250 shares changing hands. The stock had previously closed at GBX 776 ($9.55).

Analyst Upgrades and Downgrades

Separately, Citigroup reaffirmed a “top pick” rating on shares of HSBC in a research note on Thursday, December 12th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of GBX 795 ($9.78).

HSBC Stock Performance

The stock has a market capitalization of £144.54 billion, a PE ratio of 892.85, a P/E/G ratio of 5.97 and a beta of 0.52. The company’s fifty day simple moving average is GBX 745.35 and its two-hundred day simple moving average is GBX 695.12.

HSBC Announces Dividend

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

Insider Activity at HSBC

In other news, insider Georges Elhedery purchased 41,720 shares of the stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average cost of GBX 718 ($8.83) per share, for a total transaction of £299,549.60 ($368,585.70). 0.32% of the stock is 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.