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

HSBC Holdings plc (NYSE:HSBC)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $48.79 and last traded at $48.79, with a volume of 18026 shares changing hands. The stock had previously closed at $48.60.

HSBC Price Performance

The firm has a market cap of $175.17 billion, a PE ratio of 8.04 and a beta of 0.56. The stock’s fifty day moving average price is $46.11 and its 200-day moving average price is $44.49. 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 Dividend Announcement

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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Friday, November 8th. HSBC’s dividend payout ratio (DPR) is 32.73%.

Hedge Funds Weigh In On HSBC

Several hedge funds and other institutional investors have recently bought and sold shares of HSBC. Mediolanum International Funds Ltd acquired a new position in shares of HSBC during the 3rd quarter worth $139,895,000. FMR LLC lifted its holdings in shares of HSBC by 44.3% in the third quarter. FMR LLC now owns 2,442,205 shares of the financial services provider’s stock valued at $110,363,000 after purchasing an additional 749,759 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in HSBC during the 3rd quarter valued at $54,770,000. Bank of Montreal Can increased its position in HSBC by 124.3% during the 3rd quarter. Bank of Montreal Can now owns 171,416 shares of the financial services provider’s stock worth $7,820,000 after purchasing an additional 94,991 shares in the last quarter. Finally, Natixis Advisors LLC raised its stake in HSBC by 22.1% in the 2nd quarter. Natixis Advisors LLC now owns 413,789 shares of the financial services provider’s stock valued at $18,000,000 after purchasing an additional 74,980 shares during the last quarter. 1.48% of the stock is 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.