HSBC (LON:HSBA) Reaches New 1-Year High - Here's Why

Key Points

• HSBC Holdings plc shares reached a new 52-week high of GBX 975.80 ($13.03), with a trading volume of over 18 million shares.
• Analysts have a consensus rating of "Moderate Buy" for HSBC, with most recent price targets around GBX 900 ($12.02) from Royal Bank of Canada.
• HSBC operates globally with assets totaling $3.0 trillion and serves approximately 39 million customers across various financial services.

HSBC Holdings plc (LON:HSBA - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The stock traded as high as GBX 975.80 ($12.95) and last traded at GBX 971.13 ($12.89), with a volume of 18149090 shares trading hands. The stock had previously closed at GBX 959.80 ($12.74).

Wall Street Analyst Weigh In

A number of analysts have issued reports on HSBA shares. Shore Capital reaffirmed a "hold" rating and set a GBX 980 ($13.01) price target on shares of HSBC in a report on Wednesday. Royal Bank Of Canada reissued a "sector perform" rating and set a GBX 900 ($11.95) target price on shares of HSBC in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a GBX 910 ($12.08) price target on shares of HSBC in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, HSBC presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 960.83 ($12.75).

HSBC Price Performance

The business's 50-day moving average price is GBX 896.55 and its 200-day moving average price is GBX 863.81. The firm has a market capitalization of £204.93 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52.

HSBC Company Profile

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.