HSBC (NYSE:HSBC) Hits New 12-Month High at $45.65

HSBC Holdings plc (NYSE:HSBC) reached a new 52-week high during trading on Tuesday . The stock traded as high as $45.65 and last traded at $45.65, with a volume of 105005 shares trading hands. The stock had previously closed at $45.07.

Analyst Ratings Changes

Separately, Dbs Bank raised HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, HSBC currently has a consensus rating of “Hold”.

HSBC Stock Up 0.6 %

The firm has a market capitalization of $170.10 billion, a price-to-earnings ratio of 7.77, a P/E/G ratio of 0.94 and a beta of 0.56. The business has a 50 day simple moving average of $43.14 and a 200-day simple moving average of $42.63. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 0.89.

HSBC (NYSE:HSBC) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter. The business had revenue of $16.54 billion during the quarter. HSBC had a return on equity of 10.60% and a net margin of 15.61%. On average, equities analysts expect that HSBC Holdings plc will post 5.74 EPS for the current year.

HSBC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, August 16th. HSBC’s payout ratio is 34.14%.

Hedge Funds Weigh In On HSBC

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Assetmark Inc. boosted its stake in shares of HSBC by 198.4% in the 4th quarter. Assetmark Inc. now owns 2,295 shares of the financial services provider’s stock valued at $93,000 after buying an additional 1,526 shares during the period. Advisory Services Network LLC acquired a new position in shares of HSBC in the fourth quarter valued at approximately $162,000. Dorsey & Whitney Trust CO LLC boosted its stake in shares of HSBC by 2.7% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 23,839 shares of the financial services provider’s stock valued at $966,000 after buying an additional 635 shares in the last quarter. Qtron Investments LLC boosted its stake in shares of HSBC by 9.5% in the fourth quarter. Qtron Investments LLC now owns 55,716 shares of the financial services provider’s stock valued at $2,259,000 after buying an additional 4,853 shares in the last quarter. Finally, Scotia Capital Inc. purchased a new stake in shares of HSBC in the fourth quarter valued at approximately $206,000. 1.48% of the stock is currently 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.