HSBC (LON:HSBA) Reaches New 1-Year High - Still a 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.

HSBC Holdings plc (LON:HSBA - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 1,018 ($13.90) and last traded at GBX 1,015.80 ($13.87), with a volume of 48900363 shares traded. The stock had previously closed at GBX 1,001.60 ($13.67).

Wall Street Analysts Forecast Growth

HSBA has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a GBX 910 target price on shares of HSBC in a research note on Thursday, July 31st. Shore Capital reaffirmed a "hold" rating and issued a GBX 980 price objective on shares of HSBC in a research report on Wednesday, July 30th. Royal Bank Of Canada lifted 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, JPMorgan Chase & Co. upped their target price on shares of HSBC from GBX 870 to GBX 940 and gave the company a "neutral" rating in a research note on Tuesday, September 9th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, HSBC presently has a consensus rating of "Hold" and a consensus target price of GBX 980.83.

HSBC Stock Performance

The company's fifty day moving average price is GBX 950.88 and its 200 day moving average price is GBX 887.99. The firm has a market capitalization of £175.48 billion, a price-to-earnings ratio of 1,003.18, 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.

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