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

Key Points

• HSBC Holdings plc shares reached a new 52-week high, trading at GBX 1,046 ($14.02) with significant trading volume of 99 million shares.
• Analysts have mixed sentiments, with a consensus rating of "Hold" and a price target averaging around GBX 980, while Deutsche Bank and Royal Bank of Canada provide differing price targets for the stock.
• HSBC is a major global financial services organization, operating in 62 countries with total assets exceeding $3.0 trillion and serving approximately 39 million customers.

Shares of HSBC Holdings plc (LON:HSBA - Get Free Report) hit a new 52-week high during trading on Monday . The company 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).

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a GBX 910 target price on shares of HSBC in a research note on Thursday, July 31st. Royal Bank Of Canada boosted their price target 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. JPMorgan Chase & Co. boosted their price target 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. Finally, Shore Capital reissued a "hold" rating and issued a GBX 980 price target on shares of HSBC in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, HSBC presently has a consensus rating of "Hold" and a consensus price target of GBX 980.83.

HSBC Stock Performance

The stock's 50-day simple moving average is GBX 968.18 and its 200 day simple moving average is GBX 896.20. The company 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.

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.

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