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

HSBC (LON:HSBA)‘s stock had its “buy” rating restated by equities researchers at Bank of America in a report released on Tuesday,Digital Look reports. They currently have a GBX 1,035 ($13.37) price objective on the financial services provider’s stock. Bank of America‘s price objective would suggest a potential upside of 16.48% from the company’s previous close.

Separately, Citigroup boosted their price objective on HSBC from GBX 960 ($12.40) to GBX 1,070 ($13.83) and gave the company a “buy” rating in a research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 918.75 ($11.87).

HSBC Stock Up 0.2 %

Shares of LON:HSBA opened at GBX 888.60 ($11.48) on Tuesday. The company’s fifty day moving average is GBX 863.11 and its 200 day moving average is GBX 765.79. HSBC has a 52 week low of GBX 610.89 ($7.89) and a 52 week high of GBX 950.20 ($12.28). The stock has a market cap of £198.39 billion, a PE ratio of 8.55, a PEG ratio of 5.97 and a beta of 0.52.

Insider Buying and Selling at HSBC

In other HSBC news, insider Pam Kaur sold 45,267 shares of HSBC stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of GBX 861 ($11.13), for a total transaction of £389,748.87 ($503,616.58). Also, insider Georges Elhedery sold 43,451 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of GBX 926 ($11.97), for a total value of £402,356.26 ($519,907.30). 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.