HSBC (NYSE:HSBC) Hits New 1-Year High at $44.82

HSBC Holdings plc (NYSE:HSBC) reached a new 52-week high on Monday . The stock traded as high as $44.82 and last traded at $44.78, with a volume of 1269180 shares. The stock had previously closed at $44.45.

Wall Street Analyst Weigh In

HSBC has been the subject of a number of research analyst reports. BNP Paribas lowered HSBC from a “neutral” rating to an “underperform” rating in a 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 issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $761.75.

HSBC Stock Performance

The company has a market capitalization of $169.34 billion, a price-to-earnings ratio of 7.72, a price-to-earnings-growth ratio of 1.00 and a beta of 0.58. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The firm has a 50-day simple moving average of $40.13 and a two-hundred day simple moving average of $39.29.

HSBC (NYSE:HSBC) last released its quarterly earnings data 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 firm had revenue of $13.02 billion during the quarter. HSBC had a return on equity of 10.80% and a net margin of 16.13%. As a group, sell-side analysts forecast that HSBC Holdings plc will post 6.77 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Thursday, May 9th. HSBC’s dividend payout ratio is presently 106.55%.

Institutional Trading of HSBC

A number of institutional investors and hedge funds have recently made changes to their positions in HSBC. Cambridge Investment Research Advisors Inc. lifted its holdings in HSBC by 20.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 9,720 shares of the financial services provider’s stock worth $384,000 after purchasing an additional 1,665 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in HSBC by 105.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 18,110 shares of the financial services provider’s stock valued at $715,000 after buying an additional 9,291 shares during the last quarter. Lindbrook Capital LLC increased its position in HSBC by 31.9% in the 3rd quarter. Lindbrook Capital LLC now owns 7,627 shares of the financial services provider’s stock worth $301,000 after buying an additional 1,844 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of HSBC by 4.9% in the third quarter. Verdence Capital Advisors LLC now owns 29,634 shares of the financial services provider’s stock valued at $1,169,000 after acquiring an additional 1,389 shares during the period. Finally, Calamos Wealth Management LLC acquired a new stake in shares of HSBC in the third quarter worth $1,275,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

About HSBC

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.