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

Shares of HSBC Holdings plc (NYSE:HSBC) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $56.94 and last traded at $56.82, with a volume of 91580 shares changing hands. The stock had previously closed at $55.09.

Analysts Set New Price Targets

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

HSBC Price Performance

The firm has a fifty day moving average price of $50.61 and a two-hundred day moving average price of $46.73. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $203.64 billion, a P/E ratio of 9.40, a P/E/G ratio of 1.41 and a beta of 0.54.

Institutional Trading of HSBC

Institutional investors and hedge funds have recently bought and sold shares of the company. Berbice Capital Management LLC purchased a new stake in shares of HSBC during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC lifted its position in HSBC by 58.2% in the 4th quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 210 shares in the last quarter. CoreCap Advisors LLC lifted its position in HSBC by 342.9% in the 4th quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 456 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in shares of HSBC in the 4th quarter worth $30,000. Finally, Larson Financial Group LLC raised its stake in shares of 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 during the last quarter. 1.48% of the stock is currently owned by institutional investors.

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.