HSBC (NYSE:HSBC) Hits New 52-Week High – Still a Buy?

HSBC Holdings plc (NYSE:HSBC) shares hit a new 52-week high on Tuesday . The company traded as high as $49.19 and last traded at $49.18, with a volume of 156864 shares trading hands. The stock had previously closed at $48.69.

HSBC Price Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $177.44 billion, a price-to-earnings ratio of 8.14 and a beta of 0.56. The company’s fifty day moving average price is $46.43 and its 200 day moving average price is $44.59.

HSBC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 8th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a yield of 4.06%. HSBC’s dividend payout ratio is currently 32.73%.

Institutional Investors Weigh In On HSBC

Several large investors have recently made changes to their positions in HSBC. Larson Financial Group LLC raised its position in 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 purchasing an additional 450 shares in the last quarter. Ridgewood Investments LLC acquired a new position in HSBC in the second quarter worth $47,000. Fifth Third Bancorp increased its stake in shares of HSBC by 128.4% in the 2nd quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock valued at $59,000 after buying an additional 765 shares during the period. Allworth Financial LP lifted its holdings in HSBC by 40.9% in the third quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock valued at $62,000 after buying an additional 397 shares during the period. Finally, Addison Advisors LLC lifted its stake in HSBC by 39.0% in the second quarter. Addison Advisors LLC now owns 1,458 shares of the financial services provider’s stock valued at $63,000 after buying an additional 409 shares during the period. Institutional investors own 1.48% of the company’s stock.

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.