HSBC (LON:HSBA) Sets New 1-Year High – Here’s What Happened

HSBC Holdings plc (LON:HSBA) hit a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 734.30 ($9.25) and last traded at GBX 734 ($9.24), with a volume of 307412031 shares. The stock had previously closed at GBX 724.55 ($9.12).

Analyst Ratings Changes

Several research firms have recently issued reports on HSBA. Berenberg Bank reaffirmed a “buy” rating and set a GBX 870 ($10.96) price objective on shares of HSBC in a research report on Wednesday, August 21st. Citigroup reiterated a “buy” rating on shares of HSBC in a research note on Monday, September 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, HSBC presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 795 ($10.01).

HSBC Price Performance

The firm has a market cap of £133.46 billion, a PE ratio of 813.93, a PEG ratio of 5.97 and a beta of 0.52. The company has a 50 day moving average price of GBX 688.35 and a 200 day moving average price of GBX 679.72.

HSBC Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, November 7th will be given a $0.10 dividend. The ex-dividend date is Thursday, November 7th. This represents a yield of 1.11%. HSBC’s payout ratio is currently 5,393.26%.

Insider Transactions at HSBC

In other news, insider Georges Elhedery purchased 41,720 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average price of GBX 718 ($9.04) per share, for a total transaction of £299,549.60 ($377,218.99). Company insiders own 0.32% of the company’s stock.

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.