Short Interest in HSBC Holdings plc (NYSE:HSBC) Decreases By 6.2%

HSBC Holdings plc (NYSE:HSBC) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 7,460,000 shares, a decline of 6.2% from the September 30th total of 7,950,000 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 1,440,000 shares, the days-to-cover ratio is presently 5.2 days.

Institutional Trading of HSBC

Several institutional investors have recently added to or reduced their stakes in HSBC. Family Firm Inc. bought a new stake in shares of HSBC in the second quarter valued at about $36,000. RFP Financial Group LLC boosted 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 purchasing an additional 575 shares during the period. Ridgewood Investments LLC acquired a new position in shares of HSBC during the 2nd quarter worth approximately $47,000. Fifth Third Bancorp raised its position in shares of HSBC by 128.4% in the second quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock valued at $59,000 after buying an additional 765 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of HSBC by 40.9% in the third quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock valued at $62,000 after buying an additional 397 shares during the period. 1.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Dbs Bank upgraded HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st.

HSBC Stock Performance

Shares of HSBC traded up $0.23 during trading hours on Friday, hitting $46.36. The company had a trading volume of 115,471 shares, compared to its average volume of 1,710,761. The business has a fifty day moving average of $44.43 and a 200-day moving average of $43.66. 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 market cap of $101.65 billion, a price-to-earnings ratio of 7.62 and a beta of 0.56. HSBC has a 12 month low of $36.63 and a 12 month high of $47.26.

HSBC (NYSE:HSBC) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share for the quarter. HSBC had a net margin of 15.70% and a return on equity of 10.71%. The firm had revenue of $16.54 billion for the quarter. Equities analysts anticipate that HSBC will post 6.22 EPS for the current fiscal year.

HSBC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.00 annualized dividend and a yield of 4.31%. HSBC’s payout ratio is currently 32.73%.

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.