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

HSBC Holdings plc (NYSE:HSBCGet Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $89.20 and last traded at $89.2410, with a volume of 861977 shares changing hands. The stock had previously closed at $88.01.

HSBC News Roundup

Here are the key news stories impacting HSBC this week:

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HSBC shares. Weiss Ratings restated a “hold (c+)” rating on shares of HSBC in a report on Monday, December 29th. Zacks Research raised HSBC from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Keefe, Bruyette & Woods upgraded HSBC from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, December 17th. Morgan Stanley assumed coverage on shares of HSBC in a research report on Wednesday, January 14th. They issued an “equal weight” rating for the company. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of HSBC in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, HSBC currently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

Get Our Latest Research Report on HSBC

HSBC Stock Performance

The stock has a 50 day moving average of $79.50 and a 200 day moving average of $71.63. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a market cap of $307.30 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.02 and a beta of 0.52.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. bought a new position in shares of HSBC in the 3rd quarter valued at $25,000. NewSquare Capital LLC boosted its stake in HSBC by 152.6% in the second quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock valued at $26,000 after buying an additional 261 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in HSBC in the third quarter valued at about $26,000. Retirement Wealth Solutions LLC acquired a new position in HSBC during the third quarter worth about $32,000. Finally, Binnacle Investments Inc lifted its holdings in shares of HSBC by 80.5% in the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 198 shares during the last quarter. 1.48% of the stock is owned by institutional investors.

About HSBC

(Get Free Report)

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.

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