HSBC (LON:HSBA) Reaches New 12-Month High – Here’s What Happened

Shares of HSBC Holdings plc (LON:HSBA) reached a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 980.22 ($13.24) and last traded at GBX 979.10 ($13.22), with a volume of 267542313 shares changing hands. The stock had previously closed at GBX 961.40 ($12.98).

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HSBA shares. Shore Capital restated a “hold” rating and issued a GBX 980 price target on shares of HSBC in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on HSBC from GBX 830 to GBX 870 and gave the company a “neutral” rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 910 price target on shares of HSBC in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada upped their price target on HSBC from GBX 900 to GBX 950 and gave the company a “sector perform” rating in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of GBX 969.17.

HSBC Stock Up 0.6%

The firm has a 50-day moving average price of GBX 935.35 and a 200 day moving average price of GBX 883.20. The firm has a market capitalization of £168.46 billion, a PE ratio of 957.97, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52.

About HSBC

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.