HSBC (NYSE:HSBC) Hits New 52-Week High – Here’s Why

HSBC Holdings plc (NYSE:HSBC)’s stock price reached 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. The stock had previously closed at $48.69.

HSBC Trading Up 1.2 %

The company’s fifty day simple moving average is $46.64 and its 200-day simple moving average is $44.66. The firm has a market capitalization of $177.44 billion, a PE ratio of 8.14 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.

HSBC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, November 8th. This represents a $2.00 annualized dividend and a yield of 4.06%. HSBC’s dividend payout ratio (DPR) is currently 32.73%.

Hedge Funds Weigh In On HSBC

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in shares of HSBC during the 3rd quarter worth $122,000. Sanctuary Advisors LLC boosted its holdings in HSBC by 2.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 16,036 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 439 shares during the last quarter. Soltis Investment Advisors LLC purchased a new stake in shares of HSBC in the 3rd quarter valued at approximately $641,000. Coldstream Capital Management Inc. raised its position in shares of HSBC by 7.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,141 shares of the financial services provider’s stock valued at $413,000 after buying an additional 619 shares during the period. Finally, Abel Hall LLC lifted its holdings in HSBC by 4.3% in the third quarter. Abel Hall LLC now owns 6,221 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 257 shares during the last quarter. 1.48% of the stock is currently 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.