HSBC (NYSE:HSBC) Reaches New 1-Year High – Here’s What Happened

HSBC Holdings plc (NYSE:HSBC) reached a new 52-week high 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.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Jefferies Financial Group reiterated a “hold” rating on shares of HSBC in a research note on Friday, October 10th. Zacks Research raised shares of HSBC from a “hold” rating to a “strong-buy” rating in a report on Monday. BNP Paribas raised shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. BNP Paribas Exane upgraded shares of HSBC from an “underperform” rating to an “outperform” rating in a research report on Friday, September 5th. Finally, Citigroup restated a “buy” rating on shares of HSBC in a research report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, HSBC currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

HSBC Stock Performance

The firm’s fifty day moving average price is $68.27 and its 200 day moving average price is $63.28. 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 stock has a market capitalization of $248.99 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.30 and a beta of 0.62.

HSBC (NYSE:HSBC) last released its earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. HSBC had a net margin of 12.85% and a return on equity of 12.78%. The company had revenue of $17.90 billion for the quarter, compared to analyst estimates of $16.78 billion. Analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Increases Dividend

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

Institutional Trading of HSBC

Institutional investors have recently added to or reduced their stakes in the stock. AE Wealth Management LLC raised its position in HSBC by 2.2% during the third quarter. AE Wealth Management LLC now owns 7,531 shares of the financial services provider’s stock worth $535,000 after acquiring an additional 162 shares during the last quarter. Focus Partners Advisor Solutions LLC grew its stake in HSBC by 4.4% during the second quarter. Focus Partners Advisor Solutions LLC now owns 4,022 shares of the financial services provider’s stock worth $244,000 after buying an additional 168 shares during the period. Moors & Cabot Inc. grew its stake in HSBC by 2.7% during the second quarter. Moors & Cabot Inc. now owns 7,152 shares of the financial services provider’s stock worth $435,000 after buying an additional 189 shares during the period. Lido Advisors LLC lifted its position in shares of HSBC by 3.1% during the second quarter. Lido Advisors LLC now owns 6,267 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 189 shares in the last quarter. Finally, Westover Capital Advisors LLC lifted its position in shares of HSBC by 2.5% during the first quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

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.