HSBC (NYSE:HSBC) Reaches New 1-Year High – Time to Buy?

Shares of HSBC Holdings plc (NYSE:HSBC) hit a new 52-week high during trading on Tuesday . The stock 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 Stock Performance

The company has a market cap of $183.48 billion, a PE ratio of 8.47, a P/E/G ratio of 1.34 and a beta of 0.54. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $48.07 and its two-hundred day simple moving average is $45.39.

HSBC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Friday, November 8th. HSBC’s dividend payout ratio (DPR) is presently 32.73%.

Hedge Funds Weigh In On HSBC

Several hedge funds and other institutional investors have recently modified their holdings of HSBC. Mediolanum International Funds Ltd acquired a new position in HSBC during the third quarter valued at approximately $139,895,000. FMR LLC lifted 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 acquiring an additional 749,759 shares in the last quarter. Janney Capital Management LLC purchased a new stake in HSBC during the 4th quarter worth $9,306,000. International Assets Investment Management LLC acquired a new stake in HSBC in the 3rd quarter valued at $54,770,000. Finally, Bank of Montreal Can lifted its stake in shares of HSBC by 124.3% during the third 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 in the last quarter. 1.48% of the stock is 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.