HSBC (LON:HSBA) Reaches New 12-Month High - Here's Why

HSBC Holdings plc (LON:HSBA - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 901.60 ($11.39) and last traded at GBX 898.10 ($11.35), with a volume of 25659076 shares traded. The stock had previously closed at GBX 881.30 ($11.13).

Analysts Set New Price Targets

Separately, Citigroup reiterated a "top pick" rating on shares of HSBC in a report on Thursday, December 12th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of GBX 795 ($10.04).

HSBC Stock Performance

The company's fifty day moving average price is GBX 817.14 and its two-hundred day moving average price is GBX 730.37. The firm has a market capitalization of £197.76 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52.

About HSBC

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.