HSBC (LON:HSBA) Sets New 52-Week High – Here’s What Happened

HSBC Holdings plc (LON:HSBA)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 908.80 ($11.52) and last traded at GBX 902.90 ($11.44), with a volume of 226951859 shares changing hands. The stock had previously closed at GBX 899.50 ($11.40).

Wall Street Analysts Forecast Growth

Separately, Citigroup reissued 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 given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of GBX 795 ($10.08).

HSBC Stock Performance

The stock has a 50-day simple moving average of GBX 822.14 and a 200 day simple moving average of GBX 734.07. The stock has a market capitalization of £200.91 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52.

About HSBC

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.