HSBC (LON:HSBA) Sets New 12-Month High – Here’s Why

Shares of HSBC Holdings plc (LON:HSBA) reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 729.60 ($9.50) and last traded at GBX 724.66 ($9.43), with a volume of 456769406 shares changing hands. The stock had previously closed at GBX 722.40 ($9.40).

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Citigroup restated a “buy” rating on shares of HSBC in a research note on Monday, September 2nd. Berenberg Bank restated a “buy” rating and issued a GBX 870 ($11.33) price target on shares of HSBC in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 795 ($10.35).

HSBC Price Performance

The stock has a 50 day moving average of GBX 673.77 and a two-hundred day moving average of GBX 675.04. The stock has a market capitalization of £131.77 billion, a PE ratio of 811.69, a P/E/G ratio of 5.97 and a beta of 0.52.

HSBC Announces Dividend

The business also recently announced a dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, November 7th. This represents a dividend yield of 1.11%. HSBC’s payout ratio is currently 5,393.26%.

About HSBC

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.