HSBC (NYSE:HSBC) Sets New 52-Week High – Should You Buy?

HSBC Holdings plc (NYSE:HSBC)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $47.26 and last traded at $47.23, with a volume of 255162 shares changing hands. The stock had previously closed at $46.64.

Analyst Upgrades and Downgrades

Separately, Dbs Bank upgraded shares of HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st.

HSBC Stock Performance

The firm has a fifty day simple moving average of $44.54 and a 200-day simple moving average of $43.80. The stock has a market cap of $103.71 billion, a price-to-earnings ratio of 7.82 and a beta of 0.56. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52.

HSBC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a $0.50 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a yield of 4.23%. HSBC’s payout ratio is 32.73%.

Hedge Funds Weigh In On HSBC

Several large investors have recently bought and sold shares of HSBC. Family Firm Inc. bought a new position in HSBC during the second quarter worth about $36,000. RFP Financial Group LLC grew its holdings in HSBC by 126.1% during the first quarter. RFP Financial Group LLC now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 575 shares during the period. Ridgewood Investments LLC bought a new stake in HSBC in the second quarter valued at approximately $47,000. Fifth Third Bancorp raised its holdings in HSBC by 128.4% in the second quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 765 shares during the period. Finally, Allworth Financial LP boosted its position in shares of HSBC by 40.9% during the third quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 397 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

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.