HSBC (NYSE:HSBC) Sets New 1-Year High - Should You Buy?

Key Points

• HSBC reached a new **52-week high** of $71.06 during recent trading, closing at **$71.00** with a total volume of **1,572,577 shares** traded.
• Analysts currently have a **consensus rating of "Moderate Buy"** for HSBC, with the highest price target set at **$63.00** by Bank of America and a "strong-buy" rating from BNP Paribas.
• The company recently announced a **quarterly dividend** of **$0.495**, resulting in an annual yield of **2.8%** and a payout ratio of **39.21%**.

HSBC Holdings plc (NYSE:HSBC - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $71.06 and last traded at $71.00, with a volume of 1572577 shares traded. The stock had previously closed at $70.47.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HSBC shares. Citigroup reaffirmed a "buy" rating on shares of HSBC in a research note on Monday, September 22nd. Bank of America reaffirmed a "neutral" rating and issued 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 investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.00.

HSBC Stock Up 0.8%

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 company has a 50-day simple moving average of $65.75 and a two-hundred day simple moving average of $60.49. The stock has a market cap of $246.41 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.56 and a beta of 0.65.

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

HSBC Dividend Announcement

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

Hedge Funds Weigh In On HSBC

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its holdings in shares of HSBC by 1.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider's stock valued at $271,438,000 after acquiring an additional 53,072 shares in the last quarter. Belpointe Asset Management LLC bought a new position in shares of HSBC during the first quarter valued at approximately $391,000. Acadian Asset Management LLC raised its holdings in shares of HSBC by 254.2% during the first quarter. Acadian Asset Management LLC now owns 23,718 shares of the financial services provider's stock valued at $1,362,000 after acquiring an additional 17,021 shares in the last quarter. Bridgewater Advisors Inc. bought a new position in shares of HSBC during the first quarter valued at approximately $443,000. Finally, Atlas Capital Advisors Inc. raised its holdings in shares of HSBC by 501.3% during the first quarter. Atlas Capital Advisors Inc. now owns 12,032 shares of the financial services provider's stock valued at $691,000 after acquiring an additional 10,031 shares in the last quarter. Institutional investors own 1.48% of the company's stock.

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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