HSBC (LON:HSBA) Sets New 12-Month High – Still a Buy?

Shares of HSBC Holdings plc (LON:HSBA) reached a new 52-week high on Monday . The stock traded as high as GBX 734.30 ($9.23) and last traded at GBX 734 ($9.23), with a volume of 307412031 shares. The stock had previously closed at GBX 724.55 ($9.11).

Analysts Set New Price Targets

Several equities research analysts recently commented on HSBA shares. Citigroup reaffirmed a “buy” rating on shares of HSBC in a research report on Monday, September 2nd. Berenberg Bank reaffirmed a “buy” rating and set a GBX 870 ($10.94) price target on shares of HSBC in a report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, HSBC presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 795 ($9.99).

HSBC Price Performance

The stock’s 50-day simple moving average is GBX 691.40 and its two-hundred day simple moving average is GBX 680.29. The firm has a market capitalization of £133.46 billion, a P/E ratio of 823.15, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52.

HSBC Announces Dividend

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

Insider Buying and Selling at HSBC

In related news, insider Georges Elhedery bought 41,720 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average price of GBX 718 ($9.03) per share, for a total transaction of £299,549.60 ($376,555.12). Insiders own 0.32% of the company’s stock.

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.