HSBC (NYSE:HSBC) Hits New 52-Week High – Time to Buy?

HSBC Holdings plc (NYSE:HSBC) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $101.65 and last traded at $101.0840, with a volume of 1021367 shares. The stock had previously closed at $99.01.

Analyst Ratings Changes

HSBC has been the topic of a number of recent analyst reports. The Goldman Sachs Group started coverage on HSBC in a research note on Thursday, March 26th. They issued a “buy” rating on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of HSBC in a research report on Thursday, May 14th. BNP Paribas Exane lowered shares of HSBC from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 14th. Zacks Research cut shares of HSBC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Citigroup reaffirmed a “buy” rating on shares of HSBC in a report on Thursday, July 16th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, HSBC currently has an average rating of “Hold”.

HSBC Stock Performance

The firm’s 50 day moving average price is $94.46 and its 200-day moving average price is $89.00. The firm has a market cap of $347.40 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 0.88 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 earnings results on Tuesday, March 31st. The financial services provider reported $0.44 EPS for the quarter. The firm had revenue of $19.12 billion during the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. On average, analysts anticipate that HSBC Holdings plc will post 8.62 earnings per share for the current year.

HSBC Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, May 15th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. HSBC’s dividend payout ratio is currently 32.46%.

Insider Buying and Selling at HSBC

In related news, insider Daniel Scott Palomaki sold 23,123 shares of HSBC stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.11, for a total transaction of $418,757.53. Following the sale, the insider directly owned 4,973 shares of the company’s stock, valued at $90,061.03. This trade represents a 82.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.01% of the company’s stock.

Institutional Trading of HSBC

A number of hedge funds have recently modified their holdings of the company. Transamerica Financial Advisors LLC increased its position in shares of HSBC by 287.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 244 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in HSBC during the third quarter worth $26,000. Ballast Advisors LLC bought a new stake in HSBC in the 1st quarter valued at $36,000. Binnacle Investments Inc raised its stake in shares of HSBC by 80.5% in the 3rd quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock valued at $32,000 after buying an additional 198 shares in the last quarter. Finally, Western Wealth Management LLC bought a new position in shares of HSBC during the 1st quarter worth about $37,000. Institutional investors own 1.48% of the company’s stock.

About HSBC

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.