HSBC (NYSE:HSBC) Sets New 52-Week High – Here’s What Happened

HSBC Holdings plc (NYSE:HSBC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $54.80 and last traded at $54.60, with a volume of 1937220 shares traded. The stock had previously closed at $53.86.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft cut shares of HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd.

HSBC Trading Up 1.4 %

The company has a 50 day moving average of $49.88 and a two-hundred day moving average of $46.33. 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 stock has a market capitalization of $195.57 billion, a PE ratio of 9.03, a P/E/G ratio of 1.41 and a beta of 0.54.

Hedge Funds Weigh In On HSBC

Several hedge funds have recently modified their holdings of HSBC. Berbice Capital Management LLC acquired a new position in shares of HSBC in the 4th quarter valued at $25,000. Venturi Wealth Management LLC raised its stake in shares of HSBC by 58.2% in the fourth quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 210 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of HSBC during the fourth quarter worth about $30,000. Larson Financial Group LLC boosted 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 valued at $35,000 after buying an additional 450 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in HSBC in the 4th quarter worth approximately $49,000. Institutional investors and hedge funds 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.