HSBC Holdings plc (NYSE:HSBC) Sees Large Decline in Short Interest

HSBC Holdings plc (NYSE:HSBC) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 7,400,000 shares, a decline of 6.1% from the August 31st total of 7,880,000 shares. Based on an average daily trading volume, of 1,420,000 shares, the days-to-cover ratio is currently 5.2 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Trading of HSBC

Hedge funds have recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new position in HSBC in the 4th quarter worth $27,000. Family Firm Inc. acquired a new stake in shares of HSBC in the second quarter valued at approximately $36,000. Rise Advisors LLC bought a new position in HSBC during the first quarter worth $34,000. RFP Financial Group LLC raised its holdings in HSBC by 126.1% in the 1st quarter. RFP Financial Group LLC now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 575 shares during the period. Finally, Ridgewood Investments LLC bought a new position in shares of HSBC during the second quarter worth approximately $47,000. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Dbs Bank upgraded HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

HSBC Price Performance

Shares of HSBC stock opened at $45.25 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 0.89. The stock has a market capitalization of $169.73 billion, a PE ratio of 7.87, a PEG ratio of 0.98 and a beta of 0.56. HSBC has a 52 week low of $35.30 and a 52 week high of $46.07. The stock’s fifty day moving average is $43.31 and its 200-day moving average is $42.85.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter. HSBC had a return on equity of 10.60% and a net margin of 15.61%. The business had revenue of $16.54 billion for the quarter. Equities research analysts expect that HSBC will post 5.74 EPS for the current fiscal year.

HSBC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.00 dividend on an annualized basis and a yield of 4.42%. HSBC’s dividend payout ratio is presently 34.14%.

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.