HSBC (NYSE:HSBC) Hits New 12-Month High at $44.23

HSBC Holdings plc (NYSE:HSBC) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $44.23 and last traded at $44.17, with a volume of 889991 shares. The stock had previously closed at $42.18.

Analyst Ratings Changes

HSBC has been the topic of several recent research reports. BNP Paribas lowered HSBC from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 16th. Barclays reissued an “equal weight” rating on shares of HSBC in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $811.00.

HSBC Price Performance

The stock has a market cap of $165.41 billion, a P/E ratio of 7.40, a PEG ratio of 0.99 and a beta of 0.63. The firm’s fifty day moving average price is $39.55 and its 200-day moving average price is $39.13. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.62.

HSBC (NYSE:HSBC) last announced its earnings results on Wednesday, February 21st. The financial services provider reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.33). HSBC had a net margin of 19.02% and a return on equity of 12.89%. The company had revenue of $13.02 billion for the quarter. Analysts forecast that HSBC Holdings plc will post 7.24 earnings per share for the current year.

HSBC Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Friday, March 8th were issued a $1.55 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from HSBC’s previous quarterly dividend of $0.50. This represents a $6.20 annualized dividend and a yield of 14.17%. HSBC’s payout ratio is 108.42%.

Institutional Trading of HSBC

Several institutional investors have recently added to or reduced their stakes in HSBC. Prime Capital Investment Advisors LLC purchased a new stake in HSBC in the fourth quarter worth approximately $352,000. Ativo Capital Management LLC bought a new stake in HSBC during the fourth quarter valued at approximately $1,181,000. Sequoia Financial Advisors LLC raised its position in HSBC by 11.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 26,256 shares of the financial services provider’s stock worth $1,064,000 after acquiring an additional 2,724 shares during the period. Morgan Stanley grew its position in shares of HSBC by 0.9% during the 3rd quarter. Morgan Stanley now owns 8,374,688 shares of the financial services provider’s stock valued at $330,465,000 after acquiring an additional 73,129 shares during the period. Finally, Sanders Capital LLC raised its holdings in HSBC by 29.0% in the 3rd quarter. Sanders Capital LLC now owns 95,080 shares of the financial services provider’s stock worth $3,752,000 after purchasing an additional 21,380 shares during the period. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

HSBC Company Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.