HSBC (LON:HSBA) Sets New 12-Month High at $670.10

HSBC Holdings plc (LON:HSBA) shares hit a new 52-week high during trading on Monday . The company traded as high as GBX 670.10 ($8.28) and last traded at GBX 669.30 ($8.27), with a volume of 71310133 shares trading hands. The stock had previously closed at GBX 663.57 ($8.20).

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on HSBC from GBX 600 ($7.41) to GBX 660 ($8.15) and gave the company a “neutral” rating in a report on Thursday, April 11th. Barclays reaffirmed an “overweight” rating and set a GBX 800 ($9.88) target price on shares of HSBC in a report on Thursday, February 29th. Berenberg Bank lowered their target price on HSBC from GBX 820 ($10.13) to GBX 800 ($9.88) and set a “buy” rating on the stock in a report on Wednesday, February 21st. Citigroup reaffirmed a “buy” rating and set a GBX 810 ($10.00) target price on shares of HSBC in a report on Wednesday, April 10th. Finally, Shore Capital reaffirmed a “buy” rating on shares of HSBC in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, HSBC has an average rating of “Moderate Buy” and a consensus target price of GBX 822.94 ($10.16).

HSBC Stock Up 0.9 %

The stock’s 50-day moving average is GBX 622.82 and its 200 day moving average is GBX 618.15. The stock has a market capitalization of £126.53 billion, a PE ratio of 729.23, a P/E/G ratio of 0.45 and a beta of 0.58.

HSBC Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, April 25th. Shareholders of record on Thursday, March 7th were paid a $0.31 dividend. The ex-dividend date was Thursday, March 7th. This represents a yield of 3.81%. This is an increase from HSBC’s previous dividend of $0.10. HSBC’s payout ratio is 5,274.73%.

Insider Activity

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

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.