HSBC (LON:HSBA) Given Buy Rating at Bank of America

HSBC (LON:HSBA)‘s stock had its “buy” rating reissued by equities researchers at Bank of America in a research report issued to clients and investors on Tuesday, MarketBeat reports. They presently have a GBX 1,035 ($13.33) target price on the financial services provider’s stock. Bank of America‘s target price suggests a potential upside of 15.40% from the company’s previous close.

Separately, Citigroup boosted their price target on shares of HSBC from GBX 960 ($12.36) to GBX 1,070 ($13.78) and gave the stock a “buy” rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 918.75 ($11.83).

HSBC Trading Up 0.8 %

Shares of HSBA opened at GBX 896.90 ($11.55) on Tuesday. The firm has a market cap of £200.24 billion, a P/E ratio of 8.63, a PEG ratio of 5.97 and a beta of 0.52. The stock’s 50 day moving average is GBX 866.74 and its two-hundred day moving average is GBX 768.24. HSBC has a 12 month low of GBX 610.89 ($7.87) and a 12 month high of GBX 950.20 ($12.23).

Insider Transactions at HSBC

In other news, insider Pam Kaur sold 45,267 shares of HSBC stock in a transaction on Monday, March 10th. The stock was sold at an average price of GBX 861 ($11.09), for a total transaction of £389,748.87 ($501,801.04). Also, insider Georges Elhedery sold 43,451 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of GBX 926 ($11.92), for a total transaction of £402,356.26 ($518,033.04). Insiders own 0.32% of the company’s stock.

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.