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

HSBC Holdings plc (LON:HSBA) shares reached a new 52-week high during trading on Tuesday . The company traded as high as GBX 1,417.80 and last traded at GBX 1,416.40, with a volume of 146727625 shares trading hands. The stock had previously closed at GBX 1,384.60.

Wall Street Analysts Forecast Growth

HSBA has been the subject of several research analyst reports. Shore Capital Group raised HSBC to a “hold” rating and lifted their price target for the stock from GBX 1,210 to GBX 1,250 in a research note on Thursday, May 7th. UBS Group reissued a “neutral” rating and set a GBX 1,419 price objective on shares of HSBC in a report on Tuesday, May 5th. JPMorgan Chase & Co. upped their target price on HSBC from GBX 1,360 to GBX 1,370 and gave the stock a “neutral” rating in a research note on Friday, May 8th. HSBC reiterated a “hold” rating and set a GBX 1,450 price target on shares of HSBC in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group reissued a “hold” rating and set a GBX 1,120 price target on shares of HSBC in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, HSBC has a consensus rating of “Hold” and an average target price of GBX 1,300.50.

HSBC Stock Performance

The company has a market cap of £241.60 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 5.97 and a beta of 0.58. The business has a 50 day moving average price of GBX 1,342.01 and a two-hundred day moving average price of GBX 1,258.04.

Insider Buying and Selling

In related news, insider Pam Kaur acquired 2,345 shares of the stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of GBX 1,340 per share, for a total transaction of £31,423. 0.14% of the stock is owned by company insiders.

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