HSBC (LON:HSBA) Reaches New 1-Year High – Still a Buy?

HSBC Holdings plc (LON:HSBA)’s share price reached a new 52-week high during mid-day 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 changing hands. The stock had previously closed at GBX 1,384.60.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HSBA shares. JPMorgan Chase & Co. lifted their price target on HSBC from GBX 1,360 to GBX 1,370 and gave the company a “neutral” rating in a report on Friday, May 8th. Shore Capital Group raised HSBC to a “hold” rating and boosted their price objective for the stock from GBX 1,210 to GBX 1,250 in a report 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. Royal Bank Of Canada boosted their price objective on HSBC from GBX 1,200 to GBX 1,275 and gave the stock a “sector perform” rating in a report on Thursday, May 14th. Finally, Jefferies Financial Group reissued a “hold” rating and set a GBX 1,120 price objective on shares of HSBC in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Buy rating and seven have issued 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 1,300.50.

HSBC Trading Down 0.1%

The stock has a market capitalization of £245.91 billion, a P/E ratio of 11.85, a PEG ratio of 5.97 and a beta of 0.58. The company has a fifty day simple moving average of GBX 1,348.01 and a two-hundred day simple moving average of GBX 1,263.14.

Insiders Place Their Bets

In other news, insider Pam Kaur acquired 2,345 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was purchased at an average cost of GBX 1,340 per share, with a total value of £31,423. Corporate insiders own 0.14% of the company’s stock.

HSBC Company Profile