HSBC (LON:HSBA) Hits New 52-Week High – Should You Buy?

HSBC Holdings plc (LON:HSBA) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 787.30 ($9.69) and last traded at GBX 784.58 ($9.65), with a volume of 429117250 shares. The stock had previously closed at GBX 776 ($9.55).

Analyst Ratings Changes

Separately, Citigroup reaffirmed a “top pick” rating on shares of HSBC in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, HSBC has a consensus rating of “Buy” and an average price target of GBX 795 ($9.78).

HSBC Trading Down 1.0 %

The firm has a market capitalization of £144.54 billion, a price-to-earnings ratio of 892.85, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The firm has a 50 day moving average price of GBX 745.35 and a two-hundred day moving average price of GBX 695.12.

HSBC Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, November 7th were given a $0.10 dividend. This represents a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, November 7th. HSBC’s payout ratio is 5,393.26%.

Insider Activity 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 stock was acquired at an average cost of GBX 718 ($8.83) per share, with a total value of £299,549.60 ($368,585.70). Company insiders own 0.32% of the company’s stock.

About HSBC

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.