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

Shares of HSBC Holdings plc (NYSE:HSBC) reached a new 52-week high 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HSBC. BNP Paribas cut shares of HSBC from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 16th. Barclays restated an “equal weight” rating on shares of HSBC in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $811.00.

HSBC Trading Up 3.7 %

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $165.41 billion, a PE ratio of 7.40, a P/E/G ratio of 0.99 and a beta of 0.63. The business has a 50 day moving average price of $39.55 and a 200-day moving average price of $39.13.

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

HSBC Increases Dividend

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

Institutional Investors Weigh In On HSBC

Large investors have recently added to or reduced their stakes in the business. Milestone Investment Advisors LLC purchased a new stake in shares of HSBC in the third quarter valued at about $26,000. Richardson Financial Services Inc. acquired a new position in shares of HSBC during the 4th quarter worth approximately $27,000. Assetmark Inc. acquired a new stake in HSBC during the 3rd quarter valued at $30,000. Rise Advisors LLC purchased a new position in HSBC during the first quarter worth $34,000. Finally, Addison Advisors LLC raised its holdings in shares of HSBC by 74.8% in the fourth quarter. Addison Advisors LLC now owns 895 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 383 shares during the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

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.