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

HSBC Holdings plc (NYSE:HSBCGet Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $93.29 and last traded at $93.3580, with a volume of 812895 shares changing hands. The stock had previously closed at $87.88.

Trending Headlines about HSBC

Here are the key news stories impacting HSBC this week:

Wall Street Analyst Weigh In

HSBC has been the topic of several recent analyst reports. Zacks Research upgraded shares of HSBC from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Bank of America upgraded HSBC from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 10th. Keefe, Bruyette & Woods upgraded HSBC from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, December 17th. Morgan Stanley began coverage on shares of HSBC in a research report on Wednesday, January 14th. They set an “equal weight” rating on the stock. Finally, Erste Group Bank upgraded shares of HSBC from a “hold” rating to a “buy” rating in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, HSBC presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Check Out Our Latest Stock Analysis on HSBC

HSBC Price Performance

The stock has a market cap of $323.18 billion, a PE ratio of 19.81, a PEG ratio of 0.93 and a beta of 0.52. The business’s 50-day simple moving average is $83.74 and its 200-day simple moving average is $74.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

Institutional Trading of HSBC

Large investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its position in shares of HSBC by 9.2% in the 2nd quarter. Fisher Asset Management LLC now owns 17,043,371 shares of the financial services provider’s stock worth $1,036,067,000 after acquiring an additional 1,430,797 shares in the last quarter. Morgan Stanley grew its stake in HSBC by 15.3% in the fourth quarter. Morgan Stanley now owns 7,483,883 shares of the financial services provider’s stock worth $588,757,000 after purchasing an additional 993,473 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in HSBC by 1,272.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 909,464 shares of the financial services provider’s stock valued at $71,548,000 after buying an additional 843,186 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of HSBC by 77.0% during the 4th quarter. Clearbridge Investments LLC now owns 1,443,716 shares of the financial services provider’s stock valued at $113,577,000 after buying an additional 627,857 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of HSBC by 160.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 502,200 shares of the financial services provider’s stock worth $30,529,000 after buying an additional 309,738 shares during the period. Institutional investors own 1.48% of the company’s stock.

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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