HSBC (NYSE:HSBC) Sets New 52-Week High at $45.65

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

Wall Street Analysts Forecast Growth

Separately, Dbs Bank upgraded HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, HSBC has an average rating of “Hold”.

HSBC Price Performance

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

HSBC (NYSE:HSBC) last released its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 EPS for the quarter. The firm 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%. As a group, equities research analysts forecast that HSBC Holdings plc will post 5.74 EPS for the current fiscal year.

HSBC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, August 16th. This represents a $2.00 annualized dividend and a yield of 4.41%. HSBC’s dividend payout ratio is presently 34.14%.

Institutional Investors Weigh In On HSBC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mission Wealth Management LP grew its stake in shares of HSBC by 21.5% in the first quarter. Mission Wealth Management LP now owns 6,311 shares of the financial services provider’s stock valued at $248,000 after buying an additional 1,115 shares in the last quarter. Wedmont Private Capital acquired a new stake in shares of HSBC in the first quarter valued at about $203,000. Pitcairn Co. acquired a new stake in shares of HSBC in the first quarter valued at about $567,000. Insight Folios Inc acquired a new stake in shares of HSBC in the first quarter valued at about $4,589,000. Finally, Founders Financial Securities LLC acquired a new stake in shares of HSBC in the first quarter valued at about $684,000. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Company Profile

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.