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

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

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft downgraded shares of HSBC from a “buy” rating to a “hold” rating in a report on Monday, February 3rd.

HSBC Stock Down 1.7 %

The stock has a market cap of $200.45 billion, a P/E ratio of 9.25, a P/E/G ratio of 1.51 and a beta of 0.54. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm’s fifty day moving average is $50.96 and its 200 day moving average is $46.91.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.04. HSBC had a net margin of 15.70% and a return on equity of 10.71%. The company had revenue of $11.56 billion for the quarter, compared to the consensus estimate of $13.79 billion. As a group, equities research analysts forecast that HSBC Holdings plc will post 6.67 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Berbice Capital Management LLC bought a new position in shares of HSBC during the 4th quarter worth about $25,000. Venturi Wealth Management LLC increased its holdings in shares of HSBC by 58.2% during the 4th quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 210 shares during the period. CoreCap Advisors LLC increased its holdings in shares of HSBC by 342.9% during the 4th quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 456 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of HSBC during the 4th quarter valued at about $30,000. Finally, Larson Financial Group LLC boosted its position in shares of HSBC by 138.5% during the 3rd quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 450 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.