HSBC (LON:HSBA) Reaches New 52-Week High at $667.00

HSBC Holdings plc (LON:HSBA) shares reached a new 52-week high during trading on Monday . The company traded as high as GBX 667 ($8.24) and last traded at GBX 666.95 ($8.24), with a volume of 443379469 shares changing hands. The stock had previously closed at GBX 646.20 ($7.98).

Analyst Ratings Changes

HSBA has been the topic of a number of analyst reports. Citigroup reaffirmed a “buy” rating and set a GBX 810 ($10.00) price objective on shares of HSBC in a research note on Wednesday, April 10th. Barclays reaffirmed an “overweight” rating and set a GBX 800 ($9.88) price objective on shares of HSBC in a research note on Thursday, February 29th. Berenberg Bank decreased their price objective on HSBC from GBX 820 ($10.13) to GBX 800 ($9.88) and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Shore Capital reissued a “buy” rating on shares of HSBC in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. raised their price target on HSBC from GBX 600 ($7.41) to GBX 660 ($8.15) and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 822.94 ($10.16).

HSBC Stock Performance

The business has a fifty day moving average price of GBX 620.76 and a 200 day moving average price of GBX 617.96. The company has a market capitalization of £125.96 billion, a PE ratio of 733.74, a P/E/G ratio of 0.45 and a beta of 0.58.

HSBC Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, April 25th. Investors of record on Thursday, March 7th will be issued a dividend of $0.31 per share. This is an increase from HSBC’s previous dividend of $0.10. This represents a dividend yield of 3.81%. The ex-dividend date of this dividend is Thursday, March 7th. HSBC’s dividend payout ratio (DPR) is presently 5,274.73%.

Insider Activity at HSBC

In related news, insider Noel Quinn sold 89,546 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of GBX 596 ($7.36), for a total transaction of £533,694.16 ($659,207.21). In other HSBC news, insider Noel Quinn sold 89,546 shares of HSBC stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of GBX 596 ($7.36), for a total transaction of £533,694.16 ($659,207.21). Also, insider Georges Elhedery sold 28,719 shares of HSBC stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.29), for a total value of £169,442.10 ($209,291.13). Company insiders own 0.36% of the company’s stock.

About HSBC

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.