HSBC (NYSE:HSBC) Hits New 12-Month High – What’s Next?

HSBC Holdings plc (NYSE:HSBC) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $101.65 and last traded at $101.0840, with a volume of 1021367 shares trading hands. The stock had previously closed at $99.01.

Analyst Ratings Changes

HSBC has been the topic of a number of analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of HSBC in a report on Thursday, May 14th. Citigroup reissued a “buy” rating on shares of HSBC in a research note on Thursday, July 16th. Weiss Ratings lowered shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Erste Group Bank downgraded HSBC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, BNP Paribas Exane lowered HSBC from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 14th. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold”.

HSBC Stock Up 2.1%

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $347.40 billion, a P/E ratio of 16.57, a P/E/G ratio of 0.88 and a beta of 0.57. The stock has a 50 day moving average price of $94.46 and a 200 day moving average price of $89.00.

HSBC (NYSE:HSBC) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share for the quarter. HSBC had a return on equity of 13.35% and a net margin of 16.06%.The business had revenue of $19.12 billion during the quarter. Research analysts expect that HSBC Holdings plc will post 8.62 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 15th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, May 15th. HSBC’s payout ratio is presently 32.46%.

Insiders Place Their Bets

In related news, insider Daniel Scott Palomaki sold 23,123 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.11, for a total transaction of $418,757.53. Following the completion of the sale, the insider directly owned 4,973 shares in the company, valued at approximately $90,061.03. This trade represents a 82.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On HSBC

Several large investors have recently modified their holdings of HSBC. Cornerstone Planning Group LLC raised its position in HSBC by 30.7% during the fourth quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 117 shares in the last quarter. Westover Capital Advisors LLC grew its position in HSBC by 1.3% in the first quarter. Westover Capital Advisors LLC now owns 9,313 shares of the financial services provider’s stock worth $768,000 after acquiring an additional 120 shares in the last quarter. Lester Murray Antman dba SimplyRich increased its stake in shares of HSBC by 1.0% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 12,445 shares of the financial services provider’s stock worth $979,000 after purchasing an additional 123 shares during the last quarter. Ellevest Inc. raised its holdings in shares of HSBC by 0.7% during the 4th quarter. Ellevest Inc. now owns 18,219 shares of the financial services provider’s stock valued at $1,433,000 after purchasing an additional 131 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec lifted its stake in shares of HSBC by 5.3% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 2,658 shares of the financial services provider’s stock valued at $209,000 after purchasing an additional 133 shares during the last quarter. 1.48% of the stock is owned by institutional investors.

HSBC Company Profile

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.