HSBC (NYSE:HSBC) Hits New 52-Week High – Should You Buy?

Shares of HSBC Holdings plc (NYSE:HSBC) reached a new 52-week high during trading on Thursday . The company traded as high as $53.02 and last traded at $53.06, with a volume of 294854 shares. The stock had previously closed at $52.21.

Wall Street Analyst Weigh In

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

HSBC Stock Up 0.1 %

The company has a market capitalization of $190.07 billion, a P/E ratio of 8.77, a PEG ratio of 1.41 and a beta of 0.54. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average price of $49.74 and a 200 day moving average price of $46.21.

Institutional Investors Weigh In On HSBC

Several hedge funds have recently added to or reduced their stakes in HSBC. Truist Financial Corp lifted its stake in shares of HSBC by 4.2% in the second quarter. Truist Financial Corp now owns 36,480 shares of the financial services provider’s stock worth $1,587,000 after acquiring an additional 1,481 shares during the period. Cetera Investment Advisers lifted its position in shares of HSBC by 1.5% in the 2nd quarter. Cetera Investment Advisers now owns 35,222 shares of the financial services provider’s stock worth $1,532,000 after purchasing an additional 523 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of HSBC during the second quarter worth $654,000. SG Americas Securities LLC bought a new position in HSBC during the third quarter worth $594,000. Finally, GAMMA Investing LLC boosted its position in HSBC by 28.8% during the third quarter. GAMMA Investing LLC now owns 6,075 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 1,360 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

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.