HSBC (NYSE:HSBC) Hits New 52-Week High – Here’s Why

HSBC Holdings plc (NYSE:HSBC)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $83.06 and last traded at $82.5050, with a volume of 1877942 shares changing hands. The stock had previously closed at $82.53.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America raised shares of HSBC from a “neutral” rating to a “buy” rating in a report on Wednesday, December 10th. Zacks Research raised shares of HSBC from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Citigroup reissued a “buy” rating on shares of HSBC in a report on Friday, January 9th. Keefe, Bruyette & Woods upgraded HSBC from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, December 17th. Finally, Erste Group Bank upgraded HSBC from a “hold” rating to a “buy” rating in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

HSBC Stock Down 0.0%

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a market cap of $283.41 billion, a PE ratio of 17.37, a PEG ratio of 0.94 and a beta of 0.52. The company’s 50 day moving average price is $75.87 and its two-hundred day moving average price is $69.78.

HSBC (NYSE:HSBC) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. HSBC had a return on equity of 12.78% and a net margin of 12.85%.The company had revenue of $17.79 billion for the quarter, compared to analysts’ expectations of $16.78 billion. On average, equities research analysts expect that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Friday, November 7th were paid a dividend of $0.50 per share. This is a boost from HSBC’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, November 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. HSBC’s dividend payout ratio is presently 41.68%.

Hedge Funds Weigh In On HSBC

Large investors have recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new stake in shares of HSBC in the third quarter worth $25,000. NewSquare Capital LLC boosted its holdings in HSBC by 152.6% in the 2nd quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock worth $26,000 after buying an additional 261 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in HSBC in the 3rd quarter worth $26,000. TD Private Client Wealth LLC lifted its position in shares of HSBC by 101.7% in the second quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 234 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in shares of HSBC in the second quarter worth about $31,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Company Profile

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.