HSBC (NYSE:HSBC) Hits New 52-Week High at $45.65

HSBC Holdings plc (NYSE:HSBC - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $45.65 and last traded at $45.65, with a volume of 105005 shares traded. The stock had previously closed at $45.07.

Wall Street Analysts Forecast Growth

Separately, Dbs Bank upgraded HSBC to a "strong-buy" rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold".

HSBC Trading Up 0.3 %

The company has a current ratio of 0.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $43.14 and a 200-day simple moving average of $42.63. The company has a market capitalization of $169.62 billion, a PE ratio of 7.79, a PEG ratio of 0.94 and a beta of 0.56.

HSBC (NYSE:HSBC - Get Free Report) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter. The company had revenue of $16.54 billion during the quarter. HSBC had a return on equity of 10.60% and a net margin of 15.61%. Analysts predict that HSBC Holdings plc will post 5.74 EPS for the current year.

HSBC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Friday, August 16th. HSBC's payout ratio is currently 34.14%.

Hedge Funds Weigh In On HSBC

Several large investors have recently modified their holdings of the business. American Century Companies Inc. lifted its stake in shares of HSBC by 4.6% in the 2nd quarter. American Century Companies Inc. now owns 850,842 shares of the financial services provider's stock valued at $37,012,000 after purchasing an additional 37,781 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of HSBC by 22.1% in the 2nd quarter. Natixis Advisors LLC now owns 413,789 shares of the financial services provider's stock valued at $18,000,000 after purchasing an additional 74,980 shares during the last quarter. Raymond James & Associates lifted its stake in shares of HSBC by 2.6% in the 2nd quarter. Raymond James & Associates now owns 361,416 shares of the financial services provider's stock valued at $15,722,000 after purchasing an additional 9,323 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of HSBC by 19.0% in the 2nd quarter. QRG Capital Management Inc. now owns 302,994 shares of the financial services provider's stock valued at $13,180,000 after purchasing an additional 48,366 shares during the last quarter. Finally, Creative Planning lifted its stake in shares of HSBC by 22.3% in the 2nd quarter. Creative Planning now owns 202,927 shares of the financial services provider's stock valued at $8,827,000 after purchasing an additional 37,015 shares during the last quarter. Institutional investors and hedge funds own 1.48% of the company's stock.

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.