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

Bank of America reaffirmed their buy rating on shares of HSBC (LON:HSBA) in a report issued on Friday morning, Marketbeat reports. The brokerage currently has a GBX 1,035 ($13.38) target price on the financial services provider’s stock.

Separately, Citigroup increased their target price on shares of HSBC from GBX 960 ($12.41) to GBX 1,070 ($13.83) and gave the company a “buy” rating in a research report on Thursday, March 6th. One 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, HSBC currently has an average rating of “Moderate Buy” and an average price target of GBX 918.75 ($11.88).

HSBC Stock Performance

Shares of HSBA opened at GBX 870 ($11.25) on Friday. HSBC has a fifty-two week low of GBX 584.90 ($7.56) and a fifty-two week high of GBX 950.20 ($12.28). The company has a 50 day moving average price of GBX 851.80 and a 200-day moving average price of GBX 756.24. The stock has a market capitalization of £194.24 billion, a PE ratio of 8.37, a PEG ratio of 5.97 and a beta of 0.52.

Insider Buying and Selling at HSBC

In related news, insider Georges Elhedery sold 43,451 shares of HSBC stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of GBX 926 ($11.97), for a total value of £402,356.26 ($520,108.92). Also, 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 ($503,811.88). Insiders own 0.32% of the company’s stock.

About HSBC

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.