HSBC (NYSE:HSBC) Sets New 1-Year High - Time to Buy?

Shares of HSBC Holdings plc (NYSE:HSBC - Get Free Report) 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 traded. The stock had previously closed at $48.60.

HSBC Stock Performance

The company's fifty day simple moving average is $46.02 and its 200 day simple moving average is $44.46. 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 $175.25 billion, a price-to-earnings ratio of 8.04 and a beta of 0.56.

HSBC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.00 annualized dividend and a yield of 4.11%. HSBC's dividend payout ratio is currently 32.73%.

Institutional Trading of HSBC

Several hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in HSBC during the 3rd quarter worth $122,000. Sanctuary Advisors LLC increased its position in HSBC by 2.8% during the third quarter. Sanctuary Advisors LLC now owns 16,036 shares of the financial services provider's stock worth $737,000 after acquiring an additional 439 shares during the period. Soltis Investment Advisors LLC acquired a new stake in HSBC in the 3rd quarter worth about $641,000. Coldstream Capital Management Inc. grew its position in shares of HSBC by 7.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,141 shares of the financial services provider's stock worth $413,000 after purchasing an additional 619 shares in the last quarter. Finally, Abel Hall LLC increased its holdings in shares of HSBC by 4.3% during the third quarter. Abel Hall LLC now owns 6,221 shares of the financial services provider's stock worth $281,000 after purchasing an additional 257 shares during the period. 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.