HSBC Holdings plc (NYSE:HSBC - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $69.75 and last traded at $69.89, with a volume of 145470 shares. The stock had previously closed at $68.95.
Analysts Set New Price Targets
HSBC has been the subject of several analyst reports. Bank of America reissued a "neutral" rating and set a $63.00 target price on shares of HSBC in a research note on Tuesday, June 3rd. BNP Paribas Exane raised HSBC from an "underperform" rating to an "outperform" rating in a research note on Friday, September 5th. Finally, BNP Paribas raised HSBC from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.
Check Out Our Latest Report on HSBC
HSBC Price Performance
The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86. The company has a 50-day simple moving average of $64.89 and a 200-day simple moving average of $59.92. The company has a market cap of $242.03 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.56 and a beta of 0.65.
HSBC (NYSE:HSBC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.33. The business had revenue of $16.90 billion for the quarter, compared to analysts' expectations of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. As a group, research analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current year.
HSBC Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 15th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.98 dividend on an annualized basis and a yield of 2.8%. HSBC's dividend payout ratio is presently 39.21%.
Institutional Investors Weigh In On HSBC
A number of institutional investors and hedge funds have recently bought and sold shares of HSBC. NewSquare Capital LLC lifted its stake in HSBC by 152.6% in the 2nd quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider's stock valued at $26,000 after buying an additional 261 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in HSBC by 101.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider's stock valued at $28,000 after buying an additional 234 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in HSBC in the 1st quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new stake in HSBC in the 2nd quarter valued at approximately $31,000. Finally, Raleigh Capital Management Inc. purchased a new stake in HSBC in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 1.48% of the company's stock.
HSBC Company Profile
(
Get Free Report)
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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