HSBC (NYSE:HSBC) Hits New 12-Month High – What’s Next?

HSBC Holdings plc (NYSE:HSBC) shares hit a new 52-week high on Tuesday . The company traded as high as $51.23 and last traded at $51.20, with a volume of 40901 shares traded. The stock had previously closed at $50.63.

HSBC Price Performance

The company has a 50-day moving average of $48.07 and a 200-day moving average of $45.39. The stock has a market capitalization of $183.48 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 1.34 and a beta of 0.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 0.96.

HSBC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 8th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.00 annualized dividend and a dividend yield of 3.90%. HSBC’s dividend payout ratio is currently 32.73%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its stake in HSBC by 5.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 48,938 shares of the financial services provider’s stock worth $2,421,000 after acquiring an additional 2,615 shares during the period. Janney Capital Management LLC acquired a new stake in shares of HSBC during the fourth quarter worth $9,306,000. Atomi Financial Group Inc. grew its position in shares of HSBC by 22.6% in the fourth quarter. Atomi Financial Group Inc. now owns 40,592 shares of the financial services provider’s stock valued at $2,008,000 after purchasing an additional 7,490 shares during the period. Crossmark Global Holdings Inc. increased its stake in HSBC by 2.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 514,642 shares of the financial services provider’s stock valued at $25,454,000 after purchasing an additional 14,095 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC boosted its stake in HSBC by 5.1% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 23,777 shares of the financial services provider’s stock worth $1,176,000 after buying an additional 1,159 shares during the last quarter. 1.48% of the stock is currently owned by hedge funds and other 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.