HSBC (LON:HSBA) Sets New 12-Month High After Insider Buying Activity

HSBC Holdings plc (LON:HSBA)’s stock price hit a new 52-week high during mid-day trading on Wednesday following insider buying activity. The stock traded as high as GBX 1,412.20 and last traded at GBX 1,411, with a volume of 703399938 shares traded. The stock had previously closed at GBX 1,386.

Specifically, insider Pam Kaur acquired 2,345 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of GBX 1,340 per share, with a total value of £31,423.

Analyst Ratings Changes

HSBA has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price objective on HSBC from GBX 1,360 to GBX 1,370 and gave the stock a “neutral” rating in a report on Friday, May 8th. Shore Capital Group upgraded HSBC to a “hold” rating and lifted their price objective for the stock from GBX 1,210 to GBX 1,250 in a report on Thursday, May 7th. UBS Group reiterated a “neutral” rating and issued a GBX 1,419 price objective on shares of HSBC in a report on Tuesday, May 5th. Royal Bank Of Canada lifted their price objective on HSBC from GBX 1,200 to GBX 1,275 and gave the stock a “sector perform” rating in a report on Thursday, May 14th. Finally, HSBC reiterated a “hold” rating and issued a GBX 1,450 price objective on shares of HSBC in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of GBX 1,300.50.

HSBC Price Performance

The company has a market capitalization of £239.18 billion, a PE ratio of 11.62, a PEG ratio of 5.97 and a beta of 0.57. The company has a 50 day moving average of GBX 1,304.14 and a two-hundred day moving average of GBX 1,233.75.

HSBC Company Profile