HSBC (LON:HSBA) Hits New 12-Month High at $670.10

HSBC Holdings plc (LON:HSBA) reached a new 52-week high on Monday . The stock traded as high as GBX 670.10 ($8.42) and last traded at GBX 669.30 ($8.41), with a volume of 71310133 shares changing hands. The stock had previously closed at GBX 663.57 ($8.34).

Analyst Ratings Changes

HSBA has been the topic of several research reports. Berenberg Bank decreased their target price on HSBC from GBX 820 ($10.30) to GBX 800 ($10.05) and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Barclays restated an “overweight” rating and issued a GBX 800 ($10.05) target price on shares of HSBC in a research report on Thursday, February 29th. Citigroup restated a “buy” rating and issued a GBX 810 ($10.17) target price on shares of HSBC in a research report on Wednesday, April 10th. Shore Capital restated a “buy” rating on shares of HSBC in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on HSBC from GBX 600 ($7.54) to GBX 660 ($8.29) and gave the company a “neutral” rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, HSBC currently has an average rating of “Moderate Buy” and an average price target of GBX 822.94 ($10.34).

HSBC Price Performance

The stock has a market cap of £132.40 billion, a price-to-earnings ratio of 764.40, a PEG ratio of 0.45 and a beta of 0.58. The firm has a fifty day moving average of GBX 624.45 and a 200 day moving average of GBX 618.53.

HSBC Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, June 21st. Investors of record on Thursday, May 9th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a dividend yield of 3.7%. HSBC’s dividend payout ratio is presently 5,274.73%.

Insiders Place Their Bets

In other HSBC news, insider Georges Elhedery sold 28,719 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.41), for a total transaction of £169,442.10 ($212,840.22). In other HSBC news, insider Noel Quinn sold 89,546 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of GBX 596 ($7.49), for a total transaction of £533,694.16 ($670,385.83). Also, insider Georges Elhedery sold 28,719 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.41), for a total value of £169,442.10 ($212,840.22). 0.36% of the stock is owned by insiders.

HSBC Company Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.