HSBC (NYSE:HSBC) Hits New 52-Week High – Still a Buy?

HSBC Holdings plc (NYSE:HSBC)’s share price hit a new 52-week high on Monday . The company traded as high as $49.60 and last traded at $49.60, with a volume of 723374 shares changing hands. The stock had previously closed at $49.29.

HSBC Stock Up 0.6 %

The stock has a market capitalization of $178.67 billion, a P/E ratio of 8.20 and a beta of 0.56. The company has a fifty day moving average price of $46.83 and a 200-day moving average price of $44.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

HSBC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 8th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.03%. The ex-dividend date was Friday, November 8th. HSBC’s dividend payout ratio is presently 32.73%.

Institutional Trading of HSBC

Several hedge funds have recently made changes to their positions in HSBC. Mediolanum International Funds Ltd bought a new stake in HSBC in the third quarter worth $139,895,000. FMR LLC lifted its holdings in shares of HSBC by 44.3% in the 3rd quarter. FMR LLC now owns 2,442,205 shares of the financial services provider’s stock worth $110,363,000 after acquiring an additional 749,759 shares during the last quarter. International Assets Investment Management LLC bought a new position in HSBC during the 3rd quarter valued at about $54,770,000. Bank of Montreal Can raised its position in HSBC by 124.3% in the 3rd quarter. Bank of Montreal Can now owns 171,416 shares of the financial services provider’s stock worth $7,820,000 after purchasing an additional 94,991 shares during the period. Finally, Natixis Advisors LLC lifted its stake in HSBC by 22.1% in the second quarter. Natixis Advisors LLC now owns 413,789 shares of the financial services provider’s stock worth $18,000,000 after purchasing an additional 74,980 shares during the last quarter. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

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.