HSBC (NYSE:HSBC) Reaches New 1-Year High – Here’s What Happened

HSBC Holdings plc (NYSE:HSBC) reached a new 52-week high during mid-day trading on Wednesday . The company 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.

Analysts Set New Price Targets

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

HSBC Trading Up 0.2 %

The company has a market capitalization of $197.65 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 1.41 and a beta of 0.54. The company has a fifty day simple moving average of $50.18 and a two-hundred day simple moving average of $46.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.96.

Institutional Investors Weigh In On HSBC

A number of large investors have recently added to or reduced their stakes in HSBC. Berbice Capital Management LLC acquired a new stake in shares of HSBC in the fourth quarter worth $25,000. Venturi Wealth Management LLC raised its holdings in HSBC by 58.2% in the 4th quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 210 shares during the period. Whipplewood Advisors LLC acquired a new position in HSBC during the 4th quarter worth $30,000. Larson Financial Group LLC boosted its holdings in HSBC by 138.5% during the third quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 450 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of HSBC in the fourth quarter valued at about $49,000. Institutional investors own 1.48% of the company’s stock.

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.