HSBC (LON:HSBA) Hits New 1-Year High - Here's What Happened

HSBC Holdings plc (LON:HSBA - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 950.20 ($12.24) and last traded at GBX 942.50 ($12.15), with a volume of 35757289 shares changing hands. The stock had previously closed at GBX 913.14 ($11.77).

Analyst Ratings Changes

Separately, Citigroup raised their target price on shares of HSBC from GBX 960 ($12.37) to GBX 1,070 ($13.79) and gave the company a "buy" rating in a research note on Thursday.

HSBC Trading Down 0.5 %

The company has a market cap of £195.66 billion, a P/E ratio of 8.43, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The company's fifty day moving average is GBX 842.75 and its 200 day moving average is GBX 746.99.

Insider Activity

In other news, insider Georges Elhedery sold 43,451 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of GBX 926 ($11.93), for a total transaction of £402,356.26 ($518,500.34). 0.32% of the stock is currently owned by corporate insiders.

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.