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

HSBC Holdings plc (NYSE:HSBC) reached a new 52-week high during trading on Tuesday . The stock traded as high as $47.71 and last traded at $47.71, with a volume of 142178 shares changing hands. The stock had previously closed at $47.01.

HSBC Stock Performance

The firm has a market capitalization of $172.29 billion, a PE ratio of 7.77 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.96. The company’s fifty day simple moving average is $45.43 and its 200 day simple moving average is $44.17.

HSBC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.20%. The ex-dividend date is Friday, November 8th. HSBC’s dividend payout ratio (DPR) is presently 32.73%.

Institutional Investors Weigh In On HSBC

Institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of HSBC by 138.5% in the third quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock worth $35,000 after buying an additional 450 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of HSBC in the second quarter worth about $36,000. Ridgewood Investments LLC purchased a new stake in shares of HSBC in the second quarter worth about $47,000. Fifth Third Bancorp increased its position in shares of 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 last quarter. Finally, Allworth Financial LP increased its position in shares of HSBC by 40.9% in 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 during the last quarter. 1.48% of the stock is 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.