HSBC (LON:HSBA) Hits New 12-Month High – Here’s What Happened

HSBC Holdings plc (LON:HSBA)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 730.60 ($9.24) and last traded at GBX 727 ($9.20), with a volume of 238779500 shares trading hands. The stock had previously closed at GBX 727.80 ($9.21).

Analyst Upgrades and Downgrades

Several brokerages have commented on HSBA. Citigroup restated a “buy” rating on shares of HSBC in a research report on Monday, September 2nd. Berenberg Bank reissued a “buy” rating and set a GBX 870 ($11.01) price target on shares of HSBC in a report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 795 ($10.06).

HSBC Stock Performance

The company has a fifty day moving average of GBX 685.41 and a two-hundred day moving average of GBX 679.42. The company has a market cap of £131.19 billion, a price-to-earnings ratio of 811.80, a P/E/G ratio of 5.97 and a beta of 0.52.

HSBC Dividend Announcement

The company also recently declared a dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.10 per share. This represents a dividend yield of 1.11%. The ex-dividend date is Thursday, November 7th. HSBC’s dividend payout ratio (DPR) is currently 5,393.26%.

Insider Activity

In other HSBC news, insider Georges Elhedery acquired 41,720 shares of HSBC stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of GBX 718 ($9.09) per share, with a total value of £299,549.60 ($379,032.77). 0.32% of the stock is currently 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.