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

HSBC Holdings plc (NYSE:HSBC) was the target of a large decline in short interest in 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. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 1,420,000 shares, the short-interest ratio is currently 5.2 days.

HSBC Stock Down 1.3 %

HSBC stock opened at $44.60 on Wednesday. HSBC has a twelve month low of $35.30 and a twelve month high of $46.07. The business has a fifty day moving average of $43.37 and a two-hundred day moving average of $42.95. The firm has a market cap of $167.29 billion, a P/E ratio of 7.69, a P/E/G ratio of 0.98 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 0.89 and a debt-to-equity ratio of 0.65.

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

HSBC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date was Friday, August 16th. HSBC’s dividend payout ratio (DPR) is presently 34.14%.

Analyst Ratings Changes

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

Institutional Trading of HSBC

A number of institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in shares of HSBC in the 2nd quarter valued at $654,000. Orleans Capital Management Corp LA lifted its stake in HSBC by 5.0% during the 2nd quarter. Orleans Capital Management Corp LA now owns 30,555 shares of the financial services provider’s stock valued at $1,329,000 after acquiring an additional 1,450 shares during the period. Cetera Investment Advisers lifted its position in HSBC by 1.5% during the second quarter. Cetera Investment Advisers now owns 35,222 shares of the financial services provider’s stock valued at $1,532,000 after purchasing an additional 523 shares during the period. Truist Financial Corp grew its holdings in HSBC by 4.2% during the second quarter. Truist Financial Corp now owns 36,480 shares of the financial services provider’s stock worth $1,587,000 after acquiring an additional 1,481 shares during the period. Finally, Creative Planning grew its stake in shares of HSBC by 22.3% during the 2nd quarter. Creative Planning now owns 202,927 shares of the financial services provider’s stock worth $8,827,000 after purchasing an additional 37,015 shares during the period. 1.48% of the stock is currently owned by institutional investors and hedge funds.

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.