HSBC (NYSE:HSBC) Sets New 52-Week High – What’s Next?

HSBC Holdings plc (NYSE:HSBC) shares 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 trading hands. The stock had previously closed at $52.21.

Wall Street Analysts Forecast Growth

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

HSBC Stock Up 1.1 %

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 business has a 50-day moving average price of $49.49 and a 200-day moving average price of $46.09. The firm has a market cap of $189.13 billion, a P/E ratio of 8.73, a P/E/G ratio of 1.39 and a beta of 0.54.

Institutional Trading of HSBC

Hedge funds have recently modified their holdings of the company. Mediolanum International Funds Ltd acquired a new stake in HSBC in the 3rd quarter valued at $139,895,000. FMR LLC raised its stake in HSBC by 44.3% during the third quarter. FMR LLC now owns 2,442,205 shares of the financial services provider’s stock worth $110,363,000 after purchasing an additional 749,759 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of HSBC by 2.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 514,642 shares of the financial services provider’s stock worth $25,454,000 after purchasing an additional 14,095 shares during the period. Bank of New York Mellon Corp increased its holdings in HSBC by 135.6% in the 4th quarter. Bank of New York Mellon Corp now owns 347,565 shares of the financial services provider’s stock valued at $17,191,000 after purchasing an additional 200,054 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in HSBC by 11.7% during the 4th quarter. QRG Capital Management Inc. now owns 346,661 shares of the financial services provider’s stock worth $17,146,000 after buying an additional 36,219 shares during the period. 1.48% of the stock is owned by hedge funds and other 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.