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

Shares of HSBC Holdings plc (LON:HSBA) reached a new 52-week high during trading on Monday . The stock traded as high as GBX 1,046 ($14.02) and last traded at GBX 1,045.54 ($14.02), with a volume of 99082117 shares traded. The stock had previously closed at GBX 1,038.53 ($13.92).

Analyst Ratings Changes

Several analysts have recently commented on HSBA shares. JPMorgan Chase & Co. raised their target price on shares of HSBC from GBX 870 to GBX 940 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. Shore Capital reiterated a “hold” rating and issued a GBX 980 price objective on shares of HSBC in a research note on Wednesday, July 30th. Royal Bank Of Canada raised their price objective on shares of HSBC from GBX 900 to GBX 950 and gave the company a “sector perform” rating in a research note on Wednesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 910 price objective on shares of HSBC in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, HSBC presently has an average rating of “Hold” and an average target price of GBX 980.83.

HSBC Stock Performance

The company’s fifty day simple moving average is GBX 968.18 and its two-hundred day simple moving average is GBX 896.20. The stock has a market capitalization of £181.01 billion, a PE ratio of 1,034.81, a P/E/G 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.