HSBC’s (HSBA) Buy Rating Reaffirmed at Bank of America

Bank of America reaffirmed their buy rating on shares of HSBC (LON:HSBA) in a research report sent to investors on Tuesday, MarketBeat reports. They currently have a GBX 1,035 ($13.40) price target on the financial services provider’s stock.

Separately, Citigroup lifted their target price on HSBC from GBX 960 ($12.43) to GBX 1,070 ($13.85) and gave the company a “buy” rating in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 918.75 ($11.89).

HSBC Price Performance

Shares of LON HSBA opened at GBX 892.50 ($11.55) on Tuesday. The company has a market capitalization of £199.26 billion, a P/E ratio of 8.58, a P/E/G ratio of 5.97 and a beta of 0.52. The company has a 50 day simple moving average of GBX 868.27 and a 200-day simple moving average of GBX 769.09. HSBC has a 1 year low of GBX 610.89 ($7.91) and a 1 year high of GBX 950.20 ($12.30).

Insider Activity at HSBC

In related news, insider Georges Elhedery sold 43,451 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of GBX 926 ($11.99), for a total transaction of £402,356.26 ($520,916.96). Also, insider Pam Kaur sold 45,267 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of GBX 861 ($11.15), for a total transaction of £389,748.87 ($504,594.60). 0.32% of the stock is owned by insiders.

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.