HSBC (NYSE:HSBC) Hits New 1-Year High - Time to Buy?

Key Points

• HSBC Holdings plc shares recently hit a new 52-week high of $70.26 during mid-day trading, reflecting increased investor interest.
• Equities analysts have issued varied ratings, with one strong buy, three buys, and a consensus target price of $63.00.
• The company declared a quarterly dividend of $0.495 per share, resulting in an annual yield of 2.8% for shareholders.

Shares of HSBC Holdings plc (NYSE:HSBC - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $70.26 and last traded at $70.02, with a volume of 1217681 shares changing hands. The stock had previously closed at $69.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HSBC shares. Bank of America reissued a "neutral" rating and set a $63.00 target price on shares of HSBC in a report on Tuesday, June 3rd. Citigroup reissued a "buy" rating on shares of HSBC in a report on Monday. BNP Paribas raised shares of HSBC from a "strong sell" rating to a "strong-buy" rating in a report on Friday, September 5th. Finally, BNP Paribas Exane raised shares of HSBC from an "underperform" rating to an "outperform" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

HSBC Trading Up 0.4%

The firm's 50-day simple moving average is $65.04 and its 200-day simple moving average is $60.01. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $243.00 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.56 and a beta of 0.65.

HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The business had revenue of $16.90 billion during the quarter, compared to analyst estimates of $16.64 billion. Equities analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 15th will be given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, August 15th. HSBC's dividend payout ratio is presently 39.21%.

Hedge Funds Weigh In On HSBC

Several hedge funds and other institutional investors have recently modified their holdings of HSBC. Focus Partners Advisor Solutions LLC lifted its stake in HSBC by 4.4% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 4,022 shares of the financial services provider's stock worth $244,000 after purchasing an additional 168 shares in the last quarter. Moors & Cabot Inc. lifted its stake in HSBC by 2.7% in the 2nd quarter. Moors & Cabot Inc. now owns 7,152 shares of the financial services provider's stock worth $435,000 after purchasing an additional 189 shares in the last quarter. Lido Advisors LLC lifted its stake in HSBC by 3.1% in the 2nd quarter. Lido Advisors LLC now owns 6,267 shares of the financial services provider's stock worth $381,000 after purchasing an additional 189 shares in the last quarter. Westover Capital Advisors LLC lifted its stake in HSBC by 2.5% in the 1st quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider's stock worth $468,000 after purchasing an additional 200 shares in the last quarter. Finally, Contravisory Investment Management Inc. lifted its stake in HSBC by 4.4% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,972 shares of the financial services provider's stock worth $302,000 after purchasing an additional 210 shares in the last quarter. 1.48% of the stock is owned by institutional investors.

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.

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