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

Shares of HSBC Holdings plc (NYSE:HSBC) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $48.35 and last traded at $48.35, with a volume of 6383 shares changing hands. The stock had previously closed at $47.59.

HSBC Stock Up 0.2 %

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 company has a market cap of $173.07 billion, a price-to-earnings ratio of 7.94 and a beta of 0.56. The business has a 50-day simple moving average of $45.70 and a 200-day simple moving average of $44.31.

HSBC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Friday, November 8th. HSBC’s dividend payout ratio is currently 32.73%.

Institutional Investors Weigh In On HSBC

A number of hedge funds have recently bought and sold shares of HSBC. Larson Financial Group LLC raised its position in HSBC by 138.5% in the 3rd quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 450 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of HSBC during the 2nd quarter worth about $36,000. Ridgewood Investments LLC acquired a new stake in shares of HSBC during the 2nd quarter worth about $47,000. Fifth Third Bancorp raised its position in shares of HSBC by 128.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 765 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of HSBC by 40.9% during the 3rd quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 397 shares in the last quarter. Institutional investors and hedge funds 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.