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

HSBC (LON:HSBAGet Free Report)‘s stock had its “buy” rating restated by Bank of America in a research report issued on Friday, Marketbeat reports. They currently have a GBX 1,035 ($13.39) price target on the financial services provider’s stock. Bank of America‘s target price suggests a potential upside of 18.97% from the company’s current price.

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

View Our Latest Stock Analysis on HSBC

HSBC Price Performance

HSBC stock opened at GBX 870 ($11.25) on Friday. The firm has a market cap of £194.24 billion, a price-to-earnings ratio of 8.37, a P/E/G ratio of 5.97 and a beta of 0.52. HSBC has a fifty-two week low of GBX 584.90 ($7.57) and a fifty-two week high of GBX 950.20 ($12.29). The firm has a fifty day moving average price of GBX 851.80 and a two-hundred day moving average price of GBX 755.51.

Insiders Place Their Bets

In other news, insider Georges Elhedery sold 43,451 shares of HSBC stock in a transaction dated Tuesday, March 4th. The shares were 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 the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of GBX 861 ($11.14), for a total transaction of £389,748.87 ($504,137.72). Company insiders own 0.32% of the company’s stock.

About HSBC

(Get Free Report)

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.

Further Reading

Analyst Recommendations for HSBC (LON:HSBA)

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