HSBC (LON:HSBA) Reaches New 1-Year High – Here’s What Happened

HSBC Holdings plc (LON:HSBA) hit a new 52-week high on Tuesday . The company traded as high as GBX 1,073.40 and last traded at GBX 1,073.40, with a volume of 185302359 shares changing hands. The stock had previously closed at GBX 1,069.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HSBA shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 910 price target on shares of HSBC in a report on Thursday, July 31st. Citigroup boosted their price target on HSBC from GBX 1,160 to GBX 1,240 and gave the company a “buy” rating in a report on Wednesday, October 29th. Shore Capital restated a “hold” rating on shares of HSBC in a research note on Tuesday, October 28th. JPMorgan Chase & Co. upped their price objective on HSBC from GBX 950 to GBX 1,010 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada upped their price objective on HSBC from GBX 950 to GBX 1,050 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of GBX 1,037.50.

HSBC Price Performance

The firm has a market cap of £187.19 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The company has a fifty day moving average price of GBX 1,015.44 and a two-hundred day moving average price of GBX 937.43.

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.