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

HSBC Holdings plc (NYSE:HSBC)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $61.33 and last traded at $60.97, with a volume of 390203 shares trading hands. The stock had previously closed at $59.91.

Analyst Upgrades and Downgrades

Several research analysts recently commented on HSBC shares. StockNews.com cut HSBC from a “hold” rating to a “sell” rating in a research note on Monday. Barclays upgraded shares of HSBC from an “equal weight” rating to an “overweight” rating in a research note on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating on shares of HSBC in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, HSBC has a consensus rating of “Hold”.

HSBC Trading Up 1.9 %

The firm has a market capitalization of $219.61 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.05 and a beta of 0.51. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.88. The company has a 50-day moving average price of $52.68 and a 200-day moving average price of $48.00.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.04. HSBC had a return on equity of 12.20% and a net margin of 16.17%. The firm had revenue of $11.56 billion during the quarter, compared to the consensus estimate of $13.79 billion. As a group, research analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 7th will be given a $1.80 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $7.20 dividend on an annualized basis and a yield of 11.70%. HSBC’s dividend payout ratio (DPR) is presently 115.81%.

Hedge Funds Weigh In On HSBC

Hedge funds have recently made changes to their positions in the company. Ameriflex Group Inc. acquired a new stake in shares of HSBC in the 4th quarter valued at about $86,000. Forum Financial Management LP lifted its stake in HSBC by 61.6% in the fourth quarter. Forum Financial Management LP now owns 43,317 shares of the financial services provider’s stock valued at $2,142,000 after buying an additional 16,516 shares during the last quarter. Vise Technologies Inc. boosted its holdings in shares of HSBC by 1.4% in the fourth quarter. Vise Technologies Inc. now owns 20,203 shares of the financial services provider’s stock valued at $999,000 after acquiring an additional 270 shares during the period. Principal Street Partners LLC grew its position in shares of HSBC by 21.1% during the fourth quarter. Principal Street Partners LLC now owns 5,798 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 1,012 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of HSBC by 16.4% in the 4th quarter. Two Sigma Advisers LP now owns 58,100 shares of the financial services provider’s stock valued at $2,874,000 after acquiring an additional 8,200 shares during the period. Hedge funds and other institutional investors 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.