HSBC (NYSE:HSBC) Sets New 12-Month High at $44.82

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BNP Paribas cut shares of 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 report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $761.75.

HSBC Trading Up 0.9 %

The business’s 50-day moving average is $40.26 and its two-hundred day moving average is $39.34. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $171.69 billion, a PE ratio of 7.83, a PEG ratio of 1.00 and a beta of 0.58.

HSBC (NYSE:HSBC) last announced 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). HSBC had a net margin of 16.13% and a return on equity of 10.80%. The business had revenue of $13.02 billion during the quarter. On average, analysts anticipate that HSBC Holdings plc will post 6.77 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.41%. HSBC’s payout ratio is 106.55%.

Institutional Investors Weigh In On HSBC

A number of institutional investors and hedge funds have recently made changes to their positions in HSBC. Cozad Asset Management Inc. increased its stake in shares of HSBC by 58.9% during the first quarter. Cozad Asset Management Inc. now owns 11,600 shares of the financial services provider’s stock worth $457,000 after acquiring an additional 4,300 shares during the period. QRG Capital Management Inc. increased its stake in shares of HSBC by 1.2% during the first quarter. QRG Capital Management Inc. now owns 254,628 shares of the financial services provider’s stock worth $10,022,000 after acquiring an additional 3,119 shares during the period. Headlands Technologies LLC acquired a new position in shares of HSBC during the first quarter worth about $87,000. Sei Investments Co. increased its stake in shares of HSBC by 2.4% during the first quarter. Sei Investments Co. now owns 112,970 shares of the financial services provider’s stock worth $4,446,000 after acquiring an additional 2,639 shares during the period. Finally, Atomi Financial Group Inc. increased its stake in shares of HSBC by 9.5% during the first quarter. Atomi Financial Group Inc. now owns 16,421 shares of the financial services provider’s stock worth $646,000 after acquiring an additional 1,425 shares during the period. 1.48% of the stock is owned by hedge funds and other institutional investors.

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.