HSBC (NYSE:HSBC) Sets New 12-Month High at $44.82

HSBC Holdings plc (NYSE:HSBC)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $44.82 and last traded at $44.78, with a volume of 1269180 shares traded. The stock had previously closed at $44.45.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BNP Paribas cut HSBC from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 16th. Barclays reaffirmed an “equal weight” rating on shares of HSBC in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $761.75.

HSBC Stock Performance

The stock has a 50-day moving average price of $40.13 and a 200 day moving average price of $39.29. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $169.34 billion, a price-to-earnings ratio of 7.72, a P/E/G ratio of 1.00 and a beta of 0.58.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $0.57 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.33). HSBC had a return on equity of 10.80% and a net margin of 16.13%. The firm had revenue of $13.02 billion for the quarter. On average, analysts forecast that HSBC Holdings plc will post 6.77 EPS for the current year.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 10th will be issued a $0.50 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.47%. HSBC’s payout ratio is currently 106.55%.

Hedge Funds Weigh In On HSBC

Hedge funds have recently made changes to their positions in the company. Milestone Investment Advisors LLC purchased a new stake in HSBC in the 3rd quarter valued at $26,000. Richardson Financial Services Inc. purchased a new stake in shares of HSBC in the fourth quarter valued at about $27,000. Assetmark Inc. acquired a new stake in shares of HSBC during the third quarter worth about $30,000. Rise Advisors LLC purchased a new position in shares of HSBC during the first quarter worth about $34,000. Finally, Addison Advisors LLC raised its stake in HSBC by 74.8% during the 4th quarter. Addison Advisors LLC now owns 895 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 383 shares during the last quarter. 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.