HSBC (NYSE:HSBC) Sets New 12-Month High - Should You Buy?

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America reaffirmed a "neutral" rating and set a $63.00 price target on shares of HSBC in a report on Tuesday, June 3rd. Wall Street Zen raised HSBC from a "sell" rating to a "hold" rating in a report on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $63.00.

HSBC Stock Performance

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $218.23 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.92 and a beta of 0.57. The firm has a fifty day moving average of $59.12 and a 200-day moving average of $55.49.

HSBC (NYSE:HSBC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Dividend Announcement

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

Institutional Trading of HSBC

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Orion Portfolio Solutions LLC lifted its holdings in HSBC by 23.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 41,933 shares of the financial services provider's stock valued at $2,074,000 after purchasing an additional 7,908 shares in the last quarter. National Bank of Canada FI grew its stake in 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 HSBC in the 4th quarter valued at $3,998,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 during the last quarter. Finally, TrueMark Investments LLC acquired a new position in HSBC in the first quarter valued at $2,616,000. 1.48% of the stock is currently owned by hedge funds and other 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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