HSBC (NYSE:HSBC) Sets New 12-Month High – What’s Next?

HSBC Holdings plc (NYSE:HSBC) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $72.33 and last traded at $72.1180, with a volume of 150437 shares trading hands. The stock had previously closed at $70.92.

Analyst Upgrades and Downgrades

HSBC has been the topic of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of HSBC in a research report on Wednesday, October 8th. Citigroup restated a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. Zacks Research raised HSBC from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Jefferies Financial Group restated a “hold” rating on shares of HSBC in a research report on Friday, October 10th. Finally, BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.00.

HSBC Stock Down 1.1%

The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $68.54 and a two-hundred day simple moving average of $63.47. The company has a market cap of $245.80 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.15. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $16.78 billion. HSBC had a net margin of 12.85% and a return on equity of 12.78%. As a group, equities research analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, November 7th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.8%. This is an increase from HSBC’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, November 7th. HSBC’s dividend payout ratio is presently 41.68%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in HSBC by 1.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock worth $271,438,000 after acquiring an additional 53,072 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in HSBC in the first quarter valued at approximately $391,000. Acadian Asset Management LLC boosted its holdings in shares of HSBC by 254.2% in the 1st quarter. Acadian Asset Management LLC now owns 23,718 shares of the financial services provider’s stock valued at $1,362,000 after buying an additional 17,021 shares in the last quarter. Bridgewater Advisors Inc. acquired a new position in HSBC in the first quarter valued at $443,000. Finally, Atlas Capital Advisors Inc. increased its position in shares of HSBC by 501.3% during the first quarter. Atlas Capital Advisors Inc. now owns 12,032 shares of the financial services provider’s stock worth $691,000 after purchasing an additional 10,031 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

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.