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

HSBC Holdings plc (NYSE:HSBC) was the target of a significant decrease in short interest in the month of 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. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 1,440,000 shares, the days-to-cover ratio is presently 5.2 days.

HSBC Trading Down 0.3 %

NYSE:HSBC traded down $0.13 during mid-day trading on Thursday, hitting $46.10. The company had a trading volume of 361,165 shares, compared to its average volume of 1,715,254. HSBC has a fifty-two week low of $36.02 and a fifty-two week high of $47.26. The business’s fifty day moving average is $44.36 and its two-hundred day moving average is $43.64. 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 firm has a market cap of $172.92 billion, a P/E ratio of 7.97 and a beta of 0.56.

HSBC (NYSE:HSBC) last released its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share for the quarter. HSBC had a return on equity of 10.60% and a net margin of 15.61%. The firm had revenue of $16.54 billion for the quarter. As a group, research analysts expect that HSBC will post 6.22 earnings per share for the current year.

HSBC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, November 8th. HSBC’s dividend payout ratio is currently 34.14%.

Institutional Investors Weigh In On HSBC

Hedge funds have recently modified their holdings of the business. Family Firm Inc. acquired a new stake in shares of HSBC during the second quarter worth about $36,000. RFP Financial Group LLC grew its holdings 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 worth $41,000 after buying an additional 575 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of HSBC during the second quarter worth about $47,000. Fifth Third Bancorp grew its holdings in shares of HSBC by 128.4% during the second quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock worth $59,000 after buying an additional 765 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of HSBC by 40.9% during the third quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock worth $62,000 after buying an additional 397 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analyst Ratings Changes

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

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.