HSBC (NYSE:HSBC) Reaches New 1-Year High – Should You Buy?

HSBC Holdings plc (NYSE:HSBCGet Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $78.62 and last traded at $78.5560, with a volume of 200753 shares changing hands. The stock had previously closed at $77.92.

Key Headlines Impacting HSBC

Here are the key news stories impacting HSBC this week:

Analyst Upgrades and Downgrades

HSBC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded shares of HSBC from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, December 17th. BNP Paribas Exane upgraded shares of HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. Citigroup restated a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HSBC in a research note on Monday. Finally, Jefferies Financial Group reissued a “hold” rating on shares of HSBC in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

View Our Latest Analysis on HSBC

HSBC Trading Up 0.6%

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The company has a market cap of $272.15 billion, a PE ratio of 16.68, a P/E/G ratio of 0.99 and a beta of 0.52. The company has a fifty day simple moving average of $71.13 and a two-hundred day simple moving average of $66.86.

HSBC (NYSE:HSBCGet Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.15. The business had revenue of $17.79 billion during the quarter, compared to analysts’ expectations of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. Analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Friday, November 7th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, November 7th. This is a positive change from HSBC’s previous quarterly dividend of $0.50. HSBC’s dividend payout ratio (DPR) is 41.68%.

Institutional Trading of HSBC

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fisher Asset Management LLC lifted its holdings in HSBC by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 17,398,460 shares of the financial services provider’s stock worth $1,234,943,000 after buying an additional 355,089 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in HSBC by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 10,575,644 shares of the financial services provider’s stock worth $750,659,000 after purchasing an additional 185,073 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in HSBC by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock valued at $271,438,000 after purchasing an additional 53,072 shares in the last quarter. Northern Trust Corp increased its stake in HSBC by 4.7% in the third quarter. Northern Trust Corp now owns 3,045,134 shares of the financial services provider’s stock valued at $216,144,000 after purchasing an additional 136,342 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in HSBC by 14.7% during the third quarter. American Century Companies Inc. now owns 1,311,820 shares of the financial services provider’s stock worth $93,113,000 after purchasing an additional 168,438 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Company Profile

(Get Free Report)

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.

Further Reading

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