HSBC (LON:HSBA) Sets New 52-Week High on Insider Buying Activity

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

Specifically, insider Pam Kaur acquired 2,345 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of GBX 1,340 per share, for a total transaction of £31,423.

Wall Street Analysts Forecast Growth

HSBA has been the topic of several research reports. Shore Capital Group upgraded shares of HSBC to a “hold” rating and upped their price objective for the company from GBX 1,210 to GBX 1,250 in a research note on Thursday, May 7th. HSBC reiterated a “hold” rating and issued a GBX 1,450 price objective on shares of HSBC in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their price objective on shares of HSBC from GBX 1,200 to GBX 1,275 and gave the company a “sector perform” rating in a research note on Thursday, May 14th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 1,120 price objective on shares of HSBC in a research note on Tuesday, May 5th. Finally, UBS Group reissued a “neutral” rating and issued a GBX 1,419 target price on shares of HSBC in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of GBX 1,300.50.

HSBC Stock Up 0.6%

The company has a market capitalization of £238.29 billion, a P/E ratio of 11.58, a P/E/G ratio of 5.97 and a beta of 0.57. The company’s 50-day simple moving average is GBX 1,304.14 and its 200 day simple moving average is GBX 1,233.75.

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