HSBC Holdings plc (NYSE:HSBC – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $107.78 and last traded at $107.78, with a volume of 42220 shares changing hands. The stock had previously closed at $106.42.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the company. Citigroup reaffirmed a “buy” rating on shares of HSBC in a research report on Thursday, July 16th. Royal Bank Of Canada restated a “sector perform” rating on shares of HSBC in a research report on Thursday, May 14th. Zacks Research cut shares of HSBC from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings cut shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of HSBC in a research note on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.
Get Our Latest Stock Report on HSBC
HSBC Stock Performance
HSBC (NYSE:HSBC – Get Free Report) last released its earnings results on Tuesday, March 31st. The financial services provider reported $0.44 EPS for the quarter. The company had revenue of $19.12 billion during the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. On average, analysts expect that HSBC Holdings plc will post 8.64 earnings per share for the current fiscal year.
HSBC Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 15th were given a $0.50 dividend. The ex-dividend date was Friday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 1.9%. HSBC’s dividend payout ratio (DPR) is presently 32.46%.
Insiders Place Their Bets
In other HSBC news, insider Daniel Scott Palomaki sold 23,123 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.11, for a total transaction of $418,757.53. Following the transaction, the insider owned 4,973 shares in the company, valued at approximately $90,061.03. The trade was a 82.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.01% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Transamerica Financial Advisors LLC boosted its position in shares of HSBC by 287.1% during the 4th quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in HSBC during the third quarter worth about $26,000. Binnacle Investments Inc increased its holdings in HSBC by 80.5% in the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock valued at $32,000 after buying an additional 198 shares in the last quarter. Ballast Advisors LLC acquired a new stake in shares of HSBC during the 1st quarter valued at approximately $36,000. Finally, Western Wealth Management LLC purchased a new stake in shares of HSBC during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 1.48% of the company’s stock.
About HSBC
HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.
HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.
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