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

HSBC Holdings plc (NYSE:HSBC - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $54.80 and last traded at $54.60, with a volume of 1937220 shares trading hands. The stock had previously closed at $53.86.

Analyst Upgrades and Downgrades

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

HSBC Stock Down 0.2 %

The stock has a market capitalization of $197.26 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 1.41 and a beta of 0.54. 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 firm has a 50-day moving average of $50.47 and a two-hundred day moving average of $46.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mediolanum International Funds Ltd bought a new stake in shares of HSBC during the 3rd quarter worth about $139,895,000. FMR LLC boosted its stake in shares of HSBC by 18.1% during the 4th quarter. FMR LLC now owns 2,883,238 shares of the financial services provider's stock worth $142,605,000 after acquiring an additional 441,033 shares in the last quarter. Northern Trust Corp boosted its stake in shares of HSBC by 52.0% during the 4th quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider's stock worth $137,563,000 after acquiring an additional 951,050 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of HSBC by 4.5% during the 4th quarter. American Century Companies Inc. now owns 937,065 shares of the financial services provider's stock worth $46,347,000 after acquiring an additional 40,388 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake 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 acquiring an additional 14,095 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company's stock.

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.