HSBC (LON:HSBA) Hits New 52-Week High – Still a Buy?

HSBC Holdings plc (LON:HSBA)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 830.54 ($10.33) and last traded at GBX 829.90 ($10.33), with a volume of 60983668 shares. The stock had previously closed at GBX 824.20 ($10.26).

Analyst Upgrades and Downgrades

Separately, Citigroup restated a “top pick” rating on shares of HSBC in a research report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, HSBC currently has a consensus rating of “Buy” and a consensus target price of GBX 795 ($9.89).

HSBC Stock Performance

The company has a market cap of £151.03 billion, a P/E ratio of 932.92, a P/E/G ratio of 5.97 and a beta of 0.52. The firm’s fifty day moving average is GBX 770.86 and its two-hundred day moving average is GBX 705.85.

Insider Transactions at HSBC

In other news, insider Georges Elhedery acquired 41,720 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was purchased at an average price of GBX 718 ($8.93) per share, for a total transaction of £299,549.60 ($372,713.20). Corporate insiders own 0.32% of the company’s stock.

HSBC Company Profile

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.