Bank of America Reaffirms “Buy” Rating for HSBC (LON:HSBA)

HSBC (LON:HSBA)‘s stock had its “buy” rating reiterated by analysts 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) price objective on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 15.40% from the stock’s previous close.

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

HSBC Price Performance

Shares of LON:HSBA opened at GBX 896.90 ($11.55) on Tuesday. The firm has a market capitalization of £200.24 billion, a P/E ratio of 8.63, a P/E/G ratio of 5.97 and a beta of 0.52. The business’s 50-day moving average is GBX 866.74 and its 200 day moving average is GBX 768.24. HSBC has a 1 year low of GBX 610.89 ($7.87) and a 1 year high of GBX 950.20 ($12.23).

Insider Buying and Selling at HSBC

In other HSBC news, insider Pam Kaur sold 45,267 shares of HSBC stock in a transaction dated 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 stock was sold at an average price of GBX 926 ($11.92), for a total value of £402,356.26 ($518,033.04). Company 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.