HSBC (LON:HSBA) Reaches New 1-Year High – Time to Buy?

HSBC Holdings plc (LON:HSBA) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 804.60 ($9.84) and last traded at GBX 804.40 ($9.84), with a volume of 182777453 shares trading hands. The stock had previously closed at GBX 799.20 ($9.78).

Wall Street Analyst Weigh In

Separately, Citigroup restated 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, HSBC presently has an average rating of “Buy” and a consensus price target of GBX 795 ($9.73).

HSBC Price Performance

The stock has a market cap of £149.76 billion, a price-to-earnings ratio of 925.06, a PEG ratio of 5.97 and a beta of 0.52. The firm has a fifty day moving average of GBX 752.49 and a 200 day moving average of GBX 698.27.

HSBC Dividend Announcement

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

Insider Buying and Selling at HSBC

In related news, insider Georges Elhedery acquired 41,720 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average cost of GBX 718 ($8.79) per share, for a total transaction of £299,549.60 ($366,511.20). Company 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.