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

HSBC Holdings plc (LON:HSBA) reached a new 52-week high on Wednesday . The stock traded as high as GBX 1,412.20 and last traded at GBX 1,411, with a volume of 703399938 shares trading hands. The stock had previously closed at GBX 1,386.

Analyst Ratings Changes

HSBA has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on shares of HSBC from GBX 1,360 to GBX 1,370 and gave the company a “neutral” rating in a research note on Friday, May 8th. HSBC reiterated a “hold” rating and issued a GBX 1,450 target price on shares of HSBC in a research note on Wednesday, May 6th. Shore Capital Group raised HSBC to a “hold” rating and raised their target price for the stock from GBX 1,210 to GBX 1,250 in a research report on Thursday, May 7th. UBS Group reaffirmed a “neutral” rating and issued a GBX 1,419 target price on shares of HSBC in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada raised their target price on HSBC from GBX 1,200 to GBX 1,275 and gave the stock a “sector perform” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, HSBC has an average rating of “Hold” and an average target price of GBX 1,300.50.

HSBC Price Performance

The stock has a market cap of £241.96 billion, a P/E ratio of 11.76, a PEG ratio of 5.97 and a beta of 0.57. The business’s 50 day simple moving average is GBX 1,296.54 and its 200 day simple moving average is GBX 1,229.38.

Insider Transactions at HSBC

In other HSBC news, insider Georges Elhedery purchased 842,628 shares of the business’s stock in a transaction on Monday, March 9th. The stock was purchased at an average price of GBX 1,282 per share, for a total transaction of £10,802,490.96. Also, insider Pam Kaur sold 81,967 shares of HSBC stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of GBX 1,280, for a total value of £1,049,177.60. In the last 90 days, insiders have sold 242,798 shares of company stock valued at $308,402,488. Corporate insiders own 0.14% of the company’s stock.

HSBC Company Profile