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

HSBC Holdings plc (LON:HSBA)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 670.10 ($8.28) and last traded at GBX 669.30 ($8.27), with a volume of 71310133 shares changing hands. The stock had previously closed at GBX 663.57 ($8.20).

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Berenberg Bank lowered their price target on shares of HSBC from GBX 820 ($10.13) to GBX 800 ($9.88) and set a “buy” rating for the company in a research report on Wednesday, February 21st. Citigroup reaffirmed a “buy” rating and issued a GBX 810 ($10.00) price target on shares of HSBC in a research report on Wednesday, April 10th. Barclays reaffirmed an “overweight” rating and issued a GBX 800 ($9.88) price target on shares of HSBC in a research report on Thursday, February 29th. Shore Capital reaffirmed a “buy” rating on shares of HSBC in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of HSBC from GBX 600 ($7.41) to GBX 660 ($8.15) and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 822.94 ($10.16).

HSBC Stock Performance

The firm has a market cap of £126.53 billion, a price-to-earnings ratio of 729.23, a price-to-earnings-growth ratio of 0.45 and a beta of 0.58. The stock’s 50 day simple moving average is GBX 622.82 and its 200-day simple moving average is GBX 618.15.

HSBC Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, April 25th. Shareholders of record on Thursday, March 7th were paid a dividend of $0.31 per share. This is a positive change from HSBC’s previous dividend of $0.10. The ex-dividend date was Thursday, March 7th. This represents a yield of 3.81%. HSBC’s dividend payout ratio is presently 5,274.73%.

Insider Buying and Selling at HSBC

In other news, insider Noel Quinn sold 89,546 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of GBX 596 ($7.36), for a total value of £533,694.16 ($659,207.21). In other news, insider Noel Quinn sold 89,546 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of GBX 596 ($7.36), for a total value of £533,694.16 ($659,207.21). Also, insider Georges Elhedery sold 28,719 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.29), for a total transaction of £169,442.10 ($209,291.13). 0.36% of the stock is currently owned by company insiders.

About HSBC

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.