HSBC (NYSE:HSBC) Hits New 1-Year High – Here’s Why

HSBC Holdings plc (NYSE:HSBC)’s stock price 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. 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 report on Monday, February 3rd.

HSBC Stock Down 1.7 %

The business’s 50 day moving average is $50.96 and its 200 day moving average is $46.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $200.45 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 1.51 and a beta of 0.54.

HSBC (NYSE:HSBC) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.04. The company had revenue of $11.56 billion during the quarter, compared to analyst estimates of $13.79 billion. HSBC had a net margin of 15.70% and a return on equity of 10.71%. Equities analysts expect that HSBC Holdings plc will post 6.67 earnings per share for the current year.

Institutional Investors Weigh In On HSBC

A number of institutional investors have recently modified their holdings of HSBC. Mediolanum International Funds Ltd acquired a new stake in shares of HSBC during the 3rd quarter valued at $139,895,000. Northern Trust Corp raised its holdings in shares of HSBC by 52.0% during the 4th quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider’s stock valued at $137,563,000 after purchasing an additional 951,050 shares in the last quarter. FMR LLC raised its holdings in shares of HSBC by 44.3% during the 3rd quarter. FMR LLC now owns 2,442,205 shares of the financial services provider’s stock valued at $110,363,000 after purchasing an additional 749,759 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of HSBC during the 4th quarter valued at $17,815,000. Finally, Contrarian Capital Management L.L.C. bought a new position in shares of HSBC during the 4th quarter valued at $11,914,000. 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.