HSBC (LON:HSBA) Reaches New 52-Week High at $667.00

Shares of HSBC Holdings plc (LON:HSBA) reached a new 52-week high during trading on Monday . The stock traded as high as GBX 667 ($8.24) and last traded at GBX 666.95 ($8.24), with a volume of 443379469 shares. The stock had previously closed at GBX 646.20 ($7.98).

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Berenberg Bank dropped their target price on shares of HSBC from GBX 820 ($10.13) to GBX 800 ($9.88) and set a “buy” rating on the stock in a report on Wednesday, February 21st. JPMorgan Chase & Co. increased their target price on shares of HSBC from GBX 600 ($7.41) to GBX 660 ($8.15) and gave the stock a “neutral” rating in a report on Thursday, April 11th. Citigroup reiterated a “buy” rating and set a GBX 810 ($10.00) target price on shares of HSBC in a report on Wednesday, April 10th. Shore Capital reiterated a “buy” rating on shares of HSBC in a report on Tuesday, April 9th. Finally, Barclays reiterated an “overweight” rating and set a GBX 800 ($9.88) target price on shares of HSBC in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, HSBC has an average rating of “Moderate Buy” and an average price target of GBX 822.94 ($10.16).

HSBC Stock Performance

The firm has a market capitalization of £125.96 billion, a P/E ratio of 733.74, a PEG ratio of 0.45 and a beta of 0.58. The business’s fifty day moving average price is GBX 620.76 and its two-hundred day moving average price is GBX 617.96.

HSBC Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, April 25th. Stockholders of record on Thursday, March 7th will be issued a $0.31 dividend. This is a boost from HSBC’s previous dividend of $0.10. This represents a dividend yield of 3.81%. The ex-dividend date is Thursday, March 7th. HSBC’s dividend payout ratio (DPR) is currently 5,274.73%.

Insider Activity at HSBC

In related news, insider Georges Elhedery sold 28,719 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of GBX 590 ($7.29), for a total value of £169,442.10 ($209,291.13). In related news, insider Noel Quinn sold 89,546 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of GBX 596 ($7.36), for a total value of £533,694.16 ($659,207.21). Also, insider Georges Elhedery sold 28,719 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.29), for a total transaction of £169,442.10 ($209,291.13). 0.36% of the stock is currently owned by insiders.

HSBC Company Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.