HSBC (NYSE:HSBC) Hits New 52-Week High - Here's Why

Key Points

• HSBC shares reached a new 52-week high of $107.78 during Monday trading, up from the prior close of $106.42. The stock’s 50-day and 200-day moving averages were $96.62 and $90.32, respectively.
• Analyst sentiment remains mixed: four analysts rate HSBC a Buy while eight recommend Hold, resulting in a consensus “Hold” rating.
• HSBC reported quarterly EPS of $0.44 on $19.12 billion in revenue, with a 16.06% net margin and 13.35% return on equity. The company paid a quarterly dividend of $0.50 per share, equivalent to a 1.9% annualized yield.

HSBC Holdings plc (NYSE:HSBC - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $107.78 and last traded at $107.78, with a volume of 42220 shares. The stock had previously closed at $106.42.

Wall Street Analyst Weigh In

HSBC has been the subject of several research reports. Zacks Research downgraded shares of HSBC from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 5th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of HSBC in a research note on Thursday, May 14th. Erste Group Bank cut HSBC from a "buy" rating to a "hold" rating in a research note on Wednesday, July 15th. BNP Paribas Exane downgraded HSBC from an "outperform" rating to a "neutral" rating in a report on Tuesday, April 14th. Finally, Citigroup reiterated a "buy" rating on shares of HSBC in a research note on Thursday, July 16th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, HSBC has a consensus rating of "Hold".

HSBC Price Performance

The firm has a market capitalization of $368.62 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 0.94 and a beta of 0.57. The stock's fifty day moving average price is $96.62 and its two-hundred day moving average price is $90.32. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52.

HSBC (NYSE:HSBC - Get Free Report) last issued its earnings results on Tuesday, March 31st. The financial services provider reported $0.44 EPS for the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. The firm had revenue of $19.12 billion during the quarter. Equities research analysts expect that HSBC Holdings plc will post 8.64 EPS for the current year.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, May 15th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, May 15th. HSBC's dividend payout ratio is currently 32.46%.

Insider Buying and Selling at HSBC

In other news, insider Daniel Scott Palomaki sold 23,123 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.11, for a total transaction of $418,757.53. Following the sale, the insider owned 4,973 shares of the company's stock, valued at approximately $90,061.03. This trade represents a 82.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.01% of the company's stock.

Institutional Trading of HSBC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fiduciary Financial Group LLC purchased a new stake in shares of HSBC during the 2nd quarter worth approximately $250,000. City Holding Co. acquired a new stake in HSBC during the 2nd quarter worth $67,000. Focus Financial Network Inc. purchased a new stake in HSBC in the second quarter valued at $323,000. Everhart Financial Group Inc. purchased a new stake in HSBC in the second quarter valued at $214,000. Finally, TL Private Wealth acquired a new position in HSBC in the second quarter valued at $200,000. Institutional investors and hedge funds own 1.48% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.