HSBC (NYSE:HSBC) Reaches New 52-Week High – Should You Buy?

HSBC Holdings plc (NYSE:HSBC)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $97.50 and last traded at $97.5740, with a volume of 147272 shares. The stock had previously closed at $95.81.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HSBC shares. BNP Paribas Exane downgraded HSBC from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of HSBC in a research note on Tuesday, June 23rd. Royal Bank Of Canada reiterated a “sector perform” rating on shares of HSBC in a research note on Thursday, May 14th. Zacks Research lowered shares of HSBC from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, The Goldman Sachs Group began coverage on shares of HSBC in a research note on Thursday, March 26th. They set a “buy” rating on the stock. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

HSBC Stock Down 0.1%

The business has a 50-day moving average of $92.27 and a 200 day moving average of $87.16. The company has a market capitalization of $332.29 billion, a PE ratio of 15.85, a P/E/G ratio of 0.85 and a beta of 0.57. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.92 and a quick ratio of 0.92.

HSBC (NYSE:HSBC) last released its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. The business had revenue of $19.12 billion for the quarter. HSBC had a return on equity of 13.35% and a net margin of 16.06%. Equities research analysts predict that HSBC Holdings plc will post 8.67 earnings per share for the current year.

HSBC Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 15th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, May 15th. HSBC’s payout ratio is currently 32.46%.

Insider Transactions at HSBC

In related news, insider Daniel Scott Palomaki sold 23,123 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were 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 $90,061.03. This represents a 82.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.01% of the stock is currently owned by insiders.

Institutional Trading of HSBC

Large investors have recently made changes to their positions in the business. Cornerstone Planning Group LLC grew its position in HSBC by 30.7% in the fourth quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 117 shares in the last quarter. Westover Capital Advisors LLC raised its position in HSBC by 1.3% during the first quarter. Westover Capital Advisors LLC now owns 9,313 shares of the financial services provider’s stock valued at $768,000 after purchasing an additional 120 shares during the period. Lester Murray Antman dba SimplyRich lifted its stake in shares of HSBC by 1.0% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 12,445 shares of the financial services provider’s stock valued at $979,000 after purchasing an additional 123 shares during the last quarter. Ellevest Inc. lifted its stake in shares of HSBC by 0.7% in the 4th quarter. Ellevest Inc. now owns 18,219 shares of the financial services provider’s stock valued at $1,433,000 after purchasing an additional 131 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec boosted its holdings in shares of HSBC by 5.3% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 2,658 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 133 shares during the period. 1.48% of the stock is currently owned by institutional investors.

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.