HSBC (NYSE:HSBC) Sets New 52-Week High - What's Next?

HSBC Holdings plc (NYSE:HSBC - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $56.94 and last traded at $56.82, with a volume of 91580 shares changing hands. The stock had previously closed at $55.09.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft cut shares of HSBC from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd.

HSBC Stock Performance

The firm has a market cap of $200.81 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 1.50 and a beta of 0.54. The stock has a 50-day moving average of $51.26 and a 200-day moving average of $47.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 0.96.

HSBC (NYSE:HSBC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.04. HSBC had a net margin of 16.17% and a return on equity of 12.14%. The business had revenue of $11.56 billion for the quarter, compared to analyst estimates of $13.79 billion. As a group, analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 7th will be paid a $1.80 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $7.20 annualized dividend and a dividend yield of 12.84%. HSBC's dividend payout ratio is presently 31.94%.

Institutional Investors Weigh In On HSBC

Several hedge funds have recently bought and sold shares of HSBC. Bleakley Financial Group LLC increased its holdings in shares of HSBC by 10.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,740 shares of the financial services provider's stock worth $305,000 after acquiring an additional 622 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in HSBC by 23.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,341 shares of the financial services provider's stock valued at $829,000 after acquiring an additional 3,451 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of HSBC by 102.9% during the third quarter. Sequoia Financial Advisors LLC now owns 53,240 shares of the financial services provider's stock worth $2,406,000 after acquiring an additional 27,002 shares during the period. Private Advisor Group LLC grew its position in shares of HSBC by 1.2% in the third quarter. Private Advisor Group LLC now owns 26,715 shares of the financial services provider's stock valued at $1,207,000 after purchasing an additional 318 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in HSBC in the 3rd quarter valued at $54,770,000. 1.48% of the stock is currently 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.