HSBC (NYSE:HSBC) Sets New 12-Month High - What's Next?

HSBC Holdings plc (NYSE:HSBC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $62.00 and last traded at $61.81, with a volume of 478138 shares. The stock had previously closed at $61.57.

Analysts Set New Price Targets

Separately, Bank of America restated a "neutral" rating and issued a $63.00 price objective on shares of HSBC in a report on Tuesday, June 3rd. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, HSBC currently has a consensus rating of "Hold" and a consensus price target of $63.00.

HSBC Price Performance

The firm has a market capitalization of $220.76 billion, a PE ratio of 11.52, a P/E/G ratio of 1.95 and a beta of 0.57. The company has a fifty day moving average price of $59.24 and a two-hundred day moving average price of $55.54. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

HSBC (NYSE:HSBC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.35. The business had revenue of $17.74 billion for the quarter, compared to analyst estimates of $16.60 billion. HSBC had a net margin of 14.55% and a return on equity of 12.55%. Sell-side analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 12th were issued a dividend of $0.495 per share. This represents a dividend yield of 3.5%. The ex-dividend date was Friday, May 9th. HSBC's dividend payout ratio is currently 36.33%.

Institutional Trading of HSBC

Hedge funds have recently added to or reduced their stakes in the stock. Orion Portfolio Solutions LLC lifted its holdings in shares of HSBC by 23.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 41,933 shares of the financial services provider's stock worth $2,074,000 after purchasing an additional 7,908 shares during the period. National Bank of Canada FI lifted its stake in shares of HSBC by 739.7% in the 4th quarter. National Bank of Canada FI now owns 15,577 shares of the financial services provider's stock worth $770,000 after acquiring an additional 13,722 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of HSBC during the fourth quarter worth about $3,998,000. Charles Schwab Investment Management Inc. raised its holdings in HSBC by 21.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 261,135 shares of the financial services provider's stock worth $12,916,000 after purchasing an additional 45,387 shares in the last quarter. Finally, TrueMark Investments LLC purchased a new stake in HSBC in the 1st quarter valued at approximately $2,616,000. 1.48% of the stock is owned by institutional investors and hedge funds.

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.