HSBC (NYSE:HSBC) Hits New 1-Year High – Should You Buy?

HSBC Holdings plc (NYSE:HSBC) reached a new 52-week high 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 lowered HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd.

HSBC Stock Up 3.2 %

The company’s fifty day simple moving average is $50.61 and its 200 day simple moving average is $46.73. 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 has a market capitalization of $203.64 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 1.41 and a beta of 0.54.

Institutional Trading of HSBC

Large investors have recently bought and sold shares of the company. Mediolanum International Funds Ltd purchased a new position in shares of HSBC in the 3rd quarter valued at approximately $139,895,000. Northern Trust Corp lifted its position in HSBC by 52.0% during the fourth quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider’s stock valued at $137,563,000 after buying an additional 951,050 shares during the period. FMR LLC boosted 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 buying an additional 749,759 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of HSBC in the 4th quarter worth about $17,815,000. Finally, Contrarian Capital Management L.L.C. bought a new position in shares of HSBC in the 4th quarter worth about $11,914,000. 1.48% of the stock is owned by institutional investors.

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.