HSBC (LON:HSBA) Reaches New 1-Year High – Should You Buy?

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

Wall Street Analyst Weigh In

Several research firms have issued reports on HSBA. Citigroup restated a “buy” rating on shares of HSBC in a report on Monday, September 2nd. Berenberg Bank reissued a “buy” rating and set a GBX 870 ($11.01) target price on shares of HSBC in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 795 ($10.06).

HSBC Stock Down 0.2 %

The stock has a market capitalization of £131.19 billion, a price-to-earnings ratio of 811.80, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The company has a 50 day simple moving average of GBX 685.41 and a 200-day simple moving average of GBX 679.42.

HSBC Announces Dividend

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

Insider Buying and Selling at HSBC

In other news, insider Georges Elhedery acquired 41,720 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was purchased at an average price of GBX 718 ($9.09) per share, for a total transaction of £299,549.60 ($379,032.77). Insiders own 0.32% of the company’s stock.

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.