HSBC (NYSE:HSBC) Reaches New 52-Week High – What’s Next?

Shares of HSBC Holdings plc (NYSE:HSBC) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $61.33 and last traded at $60.97, with a volume of 390203 shares changing hands. The stock had previously closed at $59.91.

Wall Street Analysts Forecast Growth

Several analysts have commented on HSBC shares. Barclays raised HSBC from an “equal weight” rating to an “overweight” rating in a research note on Tuesday. StockNews.com cut HSBC from a “hold” rating to a “sell” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered shares of HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating on shares of HSBC in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, HSBC presently has an average rating of “Hold”.

HSBC Price Performance

The company has a market cap of $219.61 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.05 and a beta of 0.51. The company has a 50-day simple moving average of $52.68 and a 200-day simple moving average of $48.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.88.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.04. HSBC had a return on equity of 12.20% and a net margin of 16.17%. The firm had revenue of $11.56 billion for the quarter, compared to analyst estimates of $13.79 billion. As a group, research analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 7th will be paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 11.70%. The ex-dividend date of this dividend is Friday, March 7th. HSBC’s dividend payout ratio (DPR) is 115.81%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in shares of HSBC by 124.3% during the 3rd quarter. Bank of Montreal Can now owns 171,416 shares of the financial services provider’s stock worth $7,820,000 after acquiring an additional 94,991 shares in the last quarter. Wealthstar Advisors LLC purchased a new position in shares of HSBC in the fourth quarter valued at $664,000. Entropy Technologies LP acquired a new position in shares of HSBC during the 4th quarter worth $701,000. Ritholtz Wealth Management boosted its position in shares of HSBC by 12.3% in the 4th quarter. Ritholtz Wealth Management now owns 141,108 shares of the financial services provider’s stock worth $6,979,000 after buying an additional 15,510 shares in the last quarter. Finally, Perigon Wealth Management LLC acquired a new stake in HSBC in the 4th quarter valued at about $244,000. 1.48% of the stock is currently owned by institutional investors and hedge funds.

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.