HSBC (NYSE:HSBC) Sets New 1-Year High – Still a Buy?

Shares of HSBC Holdings plc (NYSE:HSBC) reached a new 52-week high on Tuesday . The company traded as high as $47.26 and last traded at $47.23, with a volume of 255162 shares trading hands. The stock had previously closed at $46.64.

Analyst Upgrades and Downgrades

Separately, Dbs Bank upgraded HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st.

HSBC Stock Up 0.6 %

The firm has a market capitalization of $103.81 billion, a price-to-earnings ratio of 7.83 and a beta of 0.56. The business’s 50-day moving average is $44.66 and its two-hundred day moving average is $43.87. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.22%. HSBC’s dividend payout ratio is 32.73%.

Hedge Funds Weigh In On HSBC

Institutional investors have recently modified their holdings of the business. Ignite Planners LLC increased its holdings in HSBC by 1.3% during the 3rd quarter. Ignite Planners LLC now owns 17,427 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 225 shares in the last quarter. Huntington National Bank increased its position in shares of HSBC by 11.9% in the third quarter. Huntington National Bank now owns 2,122 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 226 shares during the last quarter. Drive Wealth Management LLC raised its holdings in HSBC by 4.5% during the second quarter. Drive Wealth Management LLC now owns 6,364 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 273 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its position in HSBC by 2.3% during the third quarter. Dynamic Advisor Solutions LLC now owns 11,990 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 273 shares during the last quarter. Finally, Crumly & Associates Inc. grew its stake in HSBC by 1.8% in the second quarter. Crumly & Associates Inc. now owns 15,970 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 287 shares in the last quarter. Institutional investors own 1.48% of the company’s stock.

HSBC Company Profile

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.