HSBC (LON:HSBA) Reaches New 1-Year High - Should You Buy?

Key Points

• HSBC shares reached a new 52-week high at GBX 1,018 ($13.90), indicating strong market performance with a trading volume of 48.9 million shares.
• Analysts have a consensus rating of "Hold" for HSBC, with price targets ranging from GBX 910 to GBX 980, showing mixed sentiments on future growth.
• HSBC is a major financial institution with assets totaling $3.0 trillion and operations in 62 countries, serving approximately 39 million customers.

Shares of HSBC Holdings plc (LON:HSBA - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 1,018 ($13.72) and last traded at GBX 1,015.80 ($13.69), with a volume of 48900363 shares trading hands. The stock had previously closed at GBX 1,001.60 ($13.50).

Analysts Set New Price Targets

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

HSBC Stock Performance

The firm has a market cap of £178.00 billion, a P/E ratio of 1,017.62, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The stock's 50 day simple moving average is GBX 957.26 and its 200 day simple moving average is GBX 889.86.

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.