HSBC (NYSE:HSBC) Hits New 12-Month High – Time to Buy?

HSBC Holdings plc (NYSE:HSBC) shares hit a new 52-week high on Friday . The company traded as high as $80.82 and last traded at $80.4650, with a volume of 178173 shares changing hands. The stock had previously closed at $78.67.

Analyst Ratings Changes

Several equities research analysts recently commented on HSBC shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HSBC in a research report on Monday. Jefferies Financial Group reaffirmed a “hold” rating on shares of HSBC in a research report on Friday, October 10th. Zacks Research upgraded HSBC from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Finally, Keefe, Bruyette & Woods upgraded shares of HSBC from a “hold” rating to a “moderate buy” rating in a report on Wednesday, December 17th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

HSBC Trading Up 2.3%

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. The business’s 50-day moving average price is $72.96 and its 200 day moving average price is $67.70. The company has a market cap of $276.55 billion, a P/E ratio of 16.95, a P/E/G ratio of 0.99 and a beta of 0.52.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. HSBC had a return on equity of 12.78% and a net margin of 12.85%.The business had revenue of $17.79 billion during the quarter, compared to analysts’ expectations of $16.78 billion. As a group, analysts expect 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 was paid on Thursday, December 18th. Shareholders of record on Friday, November 7th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $2.00 annualized dividend and a yield of 2.5%. This is a boost from HSBC’s previous quarterly dividend of $0.50. HSBC’s payout ratio is presently 41.68%.

Institutional Investors Weigh In On HSBC

Large investors have recently modified their holdings of the company. Allworth Financial LP boosted its position in shares of HSBC by 17.9% during the 3rd quarter. Allworth Financial LP now owns 6,358 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 967 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of HSBC by 1,424.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,460 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 3,233 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of HSBC during the 3rd quarter worth about $352,000. Ariadne Wealth Management LP acquired a new position in HSBC during the 3rd quarter worth approximately $210,000. Finally, First Affirmative Financial Network boosted its holdings in HSBC by 6.1% in the third quarter. First Affirmative Financial Network now owns 4,409 shares of the financial services provider’s stock worth $313,000 after acquiring an additional 253 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

About HSBC

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.