HSBC (LON:HSBA) Earns “Buy” Rating from Bank of America

Bank of America restated their buy rating on shares of HSBC (LON:HSBA) in a report released on Friday, Marketbeat reports. They currently have a GBX 1,035 ($13.39) target price on the financial services provider’s stock.

Separately, Citigroup raised their price objective on shares of HSBC from GBX 960 ($12.42) to GBX 1,070 ($13.84) and gave the stock a “buy” rating in a research note on Thursday, March 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 918.75 ($11.88).

HSBC Stock Up 2.0 %

HSBC stock opened at GBX 870 ($11.25) on Friday. The firm’s 50-day simple moving average is GBX 851.80 and its 200 day simple moving average is GBX 754.88. HSBC has a 52 week low of GBX 584.90 ($7.57) and a 52 week high of GBX 950.20 ($12.29). The firm has a market capitalization of £194.24 billion, a PE ratio of 8.37, a P/E/G ratio of 5.97 and a beta of 0.52.

Insider Buying and Selling

In other news, insider Georges Elhedery sold 43,451 shares of HSBC stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of GBX 926 ($11.98), for a total value of £402,356.26 ($520,445.30). Also, insider Pam Kaur sold 45,267 shares of HSBC stock in a transaction dated Monday, March 10th. The shares were sold at an average price of GBX 861 ($11.14), for a total value of £389,748.87 ($504,137.72). 0.32% of the stock is currently owned by company 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.