HSBC (NYSE:HSBC) Reaches New 12-Month High – Here’s Why

HSBC Holdings plc (NYSE:HSBC)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $47.02 and last traded at $46.92, with a volume of 515823 shares. The stock had previously closed at $45.17.

Wall Street Analysts Forecast Growth

Separately, Dbs Bank raised shares of HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st.

HSBC Trading Up 3.4 %

The firm has a market capitalization of $175.17 billion, a P/E ratio of 8.09 and a beta of 0.56. The business’s 50-day moving average is $44.23 and its 200 day moving average is $43.58. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.89 and a quick ratio of 0.96.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter. The firm had revenue of $16.54 billion for the quarter. HSBC had a net margin of 15.61% and a return on equity of 10.60%. As a group, analysts anticipate that HSBC Holdings plc will post 6.22 EPS for the current fiscal year.

HSBC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 16th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, August 16th. This represents a $2.00 dividend on an annualized basis and a yield of 4.28%. HSBC’s payout ratio is 34.14%.

Institutional Investors Weigh In On HSBC

Large investors have recently bought and sold shares of the company. Caas Capital Management LP boosted its stake in shares of HSBC by 172.6% in the 3rd quarter. Caas Capital Management LP now owns 49,596 shares of the financial services provider’s stock valued at $2,241,000 after purchasing an additional 31,403 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of HSBC by 1.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 50,238 shares of the financial services provider’s stock valued at $2,270,000 after purchasing an additional 646 shares in the last quarter. Insight Folios Inc boosted its stake in shares of HSBC by 7.7% in the 3rd quarter. Insight Folios Inc now owns 130,832 shares of the financial services provider’s stock valued at $5,912,000 after purchasing an additional 9,299 shares in the last quarter. Frank Rimerman Advisors LLC boosted its stake in shares of HSBC by 1.7% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 60,554 shares of the financial services provider’s stock valued at $2,736,000 after purchasing an additional 1,005 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of HSBC by 2.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 21,674 shares of the financial services provider’s stock valued at $979,000 after purchasing an additional 542 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

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.