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

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

Hedge Funds Weigh In On HSBC

Several institutional investors and hedge funds have recently modified their holdings of the stock. Family Firm Inc. bought a new stake in HSBC during the 2nd quarter valued at about $36,000. RFP Financial Group LLC increased its position in shares of HSBC by 126.1% during the first 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 in the last quarter. Ridgewood Investments LLC purchased a new position in HSBC in the 2nd quarter worth approximately $47,000. Fifth Third Bancorp lifted its position in HSBC by 128.4% in the 2nd quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 765 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in HSBC by 40.9% during the 3rd quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 397 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

HSBC Stock Performance

Shares of HSBC stock opened at $46.20 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average price is $44.48 and its 200-day moving average price is $43.70. The stock has a market cap of $101.30 billion, a PE ratio of 7.64 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 announced its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share for the quarter. The business had revenue of $16.54 billion during the quarter. HSBC had a net margin of 15.70% and a return on equity of 10.71%. On average, equities analysts expect that HSBC will post 6.22 EPS for the current fiscal year.

HSBC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.33%. The ex-dividend date is Friday, November 8th. HSBC’s dividend payout ratio (DPR) is 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.