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

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

HSBC Price Performance

HSBC stock opened at $45.25 on Monday. The stock has a market capitalization of $169.73 billion, a PE ratio of 7.87, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.89 and a quick ratio of 0.96. HSBC has a 12 month low of $35.30 and a 12 month high of $46.07. The business has a 50 day simple moving average of $43.31 and a 200-day simple moving average of $42.85.

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

HSBC Announces Dividend

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

Hedge Funds Weigh In On HSBC

Institutional investors and hedge funds have recently modified their holdings of the company. Insight Folios Inc acquired a new position in shares of HSBC during the 1st quarter valued at $4,589,000. Stamos Capital Partners L.P. lifted its stake in HSBC by 884.1% in the first quarter. Stamos Capital Partners L.P. now owns 125,970 shares of the financial services provider’s stock valued at $4,958,000 after buying an additional 113,170 shares during the last quarter. Susquehanna International Securities Ltd. grew its position in HSBC by 285.8% in the 1st quarter. Susquehanna International Securities Ltd. now owns 112,583 shares of the financial services provider’s stock worth $4,431,000 after purchasing an additional 83,403 shares during the last quarter. Natixis Advisors LLC increased its position in HSBC by 22.1% in the 2nd quarter. Natixis Advisors LLC now owns 413,789 shares of the financial services provider’s stock valued at $18,000,000 after acquiring an additional 74,980 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new stake in HSBC in the second quarter worth about $2,590,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Analysts Set New Price Targets

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

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.