HSBC (NYSE:HSBC) Hits New 52-Week High – Still a Buy?

HSBC Holdings plc (NYSE:HSBC) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $57.62 and last traded at $57.65, with a volume of 101984 shares traded. The stock had previously closed at $55.70.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HSBC. Deutsche Bank Aktiengesellschaft cut shares of HSBC from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating on shares of HSBC in a research note on Monday, February 3rd.

HSBC Stock Performance

The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $51.40 and its two-hundred day simple moving average is $47.28. The stock has a market cap of $204.97 billion, a P/E ratio of 9.23, a price-to-earnings-growth ratio of 1.05 and a beta of 0.54.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.04. HSBC had a return on equity of 12.20% and a net margin of 16.17%. The firm had revenue of $11.56 billion for the quarter, compared to the consensus estimate of $13.79 billion. As a group, research analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 7th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 12.58%. HSBC’s dividend payout ratio (DPR) is 115.81%.

Institutional Investors Weigh In On HSBC

Several institutional investors have recently bought and sold shares of HSBC. Ameriflex Group Inc. purchased a new position in shares of HSBC in the fourth quarter valued at $86,000. Forum Financial Management LP lifted its holdings in shares of HSBC by 61.6% in the fourth quarter. Forum Financial Management LP now owns 43,317 shares of the financial services provider’s stock worth $2,142,000 after buying an additional 16,516 shares in the last quarter. Vise Technologies Inc. grew its stake in HSBC by 1.4% during the fourth quarter. Vise Technologies Inc. now owns 20,203 shares of the financial services provider’s stock valued at $999,000 after acquiring an additional 270 shares in the last quarter. Principal Street Partners LLC increased its holdings in HSBC by 21.1% during the 4th quarter. Principal Street Partners LLC now owns 5,798 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 1,012 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in HSBC by 16.4% in the 4th quarter. Two Sigma Advisers LP now owns 58,100 shares of the financial services provider’s stock worth $2,874,000 after purchasing an additional 8,200 shares in the last quarter. Institutional investors own 1.48% of the company’s stock.

About HSBC

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.