HSBC (NYSE:HSBC) Sets New 1-Year High at $44.23

HSBC Holdings plc (NYSE:HSBC)’s stock price hit 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. The stock had previously closed at $42.18.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. BNP Paribas downgraded shares of HSBC from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 16th. Barclays restated an “equal weight” rating on shares of HSBC in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $811.00.

HSBC Price Performance

The stock has a market cap of $165.07 billion, a PE ratio of 7.53, a P/E/G ratio of 1.03 and a beta of 0.58. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50 day moving average price is $39.74 and its two-hundred day moving average price is $39.19.

HSBC (NYSE:HSBC) last released its quarterly earnings data on Wednesday, February 21st. The financial services provider reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.33). The business had revenue of $13.02 billion during the quarter. HSBC had a net margin of 16.13% and a return on equity of 10.90%. On average, research analysts expect that HSBC Holdings plc will post 7.24 earnings per share for the current year.

HSBC Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of HSBC by 167.4% in the third 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 acquiring an additional 527,677 shares during the period. Dimensional Fund Advisors LP lifted its stake in HSBC by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,621,349 shares of the financial services provider’s stock worth $471,129,000 after purchasing an additional 376,641 shares in the last quarter. American Century Companies Inc. boosted its holdings in HSBC by 39.4% in the 3rd quarter. American Century Companies Inc. now owns 698,250 shares of the financial services provider’s stock valued at $27,553,000 after purchasing an additional 197,283 shares during the period. CWM LLC grew its position in shares of HSBC by 3,518.2% during the 4th quarter. CWM LLC now owns 177,835 shares of the financial services provider’s stock valued at $7,209,000 after purchasing an additional 172,920 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new position in shares of HSBC in the third quarter worth $6,706,000. 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.