HSBC (NYSE:HSBC) Reaches New 52-Week High at $44.23

HSBC Holdings plc (NYSE:HSBC) shares reached a new 52-week high on Tuesday . The company traded as high as $44.23 and last traded at $44.17, with a volume of 889991 shares traded. The stock had previously closed at $42.18.

Analyst Ratings Changes

HSBC has been the topic of several research reports. Barclays restated an “equal weight” rating on shares of HSBC in a research note on Wednesday, March 27th. BNP Paribas downgraded shares of HSBC from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $811.00.

HSBC Stock Up 0.2 %

The firm’s 50-day moving average price is $39.74 and its 200 day moving average price is $39.19. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $165.07 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 1.03 and a beta of 0.58.

HSBC (NYSE:HSBC) last announced its quarterly earnings data 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). The firm had revenue of $13.02 billion for the quarter. HSBC had a net margin of 16.13% and a return on equity of 10.90%. On average, sell-side analysts forecast that HSBC Holdings plc will post 7.24 EPS for the current fiscal year.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.00 annualized dividend and a dividend yield of 4.58%. HSBC’s dividend payout ratio is currently 106.55%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of HSBC by 167.4% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 842,864 shares of the financial services provider’s stock valued at $33,259,000 after purchasing an additional 527,677 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of HSBC by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,621,349 shares of the financial services provider’s stock worth $471,129,000 after buying an additional 376,641 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of HSBC by 39.4% during the third quarter. American Century Companies Inc. now owns 698,250 shares of the financial services provider’s stock worth $27,553,000 after buying an additional 197,283 shares in the last quarter. CWM LLC lifted its stake in shares of HSBC by 3,518.2% in the 4th quarter. CWM LLC now owns 177,835 shares of the financial services provider’s stock valued at $7,209,000 after acquiring an additional 172,920 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in shares of HSBC during the 3rd quarter valued at $6,706,000. Institutional investors and hedge funds 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.