HSBC Holdings plc (NYSE:HSBC) Short Interest Down 6.2% in October

HSBC Holdings plc (NYSE:HSBC) was the recipient of a significant decrease in short interest during 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 shares of the stock are short sold. Based on an average daily volume of 1,440,000 shares, the short-interest ratio is currently 5.2 days.

HSBC Trading Up 0.5 %

HSBC stock traded up $0.23 during mid-day trading on Friday, hitting $46.36. 115,471 shares of the stock were exchanged, compared to its average volume of 1,710,761. The stock has a market capitalization 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. 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’s fifty day simple moving average is $44.43 and its two-hundred day simple moving average is $43.66.

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%. Analysts forecast that HSBC will post 6.22 EPS for the current year.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Friday, November 8th. HSBC’s dividend payout ratio is 32.73%.

Institutional Investors Weigh In On HSBC

Several large investors have recently added to or reduced their stakes in the business. Ignite Planners LLC boosted its holdings in shares of HSBC by 1.3% during the 3rd quarter. Ignite Planners LLC now owns 17,427 shares of the financial services provider’s stock worth $788,000 after buying an additional 225 shares in the last quarter. Drive Wealth Management LLC grew its holdings in HSBC by 4.5% in the second quarter. Drive Wealth Management LLC now owns 6,364 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 273 shares during the period. Dynamic Advisor Solutions LLC increased its stake in HSBC by 2.3% in the third quarter. Dynamic Advisor Solutions LLC now owns 11,990 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 273 shares in the last quarter. Crumly & Associates Inc. raised its holdings in shares of HSBC by 1.8% during the second quarter. Crumly & Associates Inc. now owns 15,970 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 287 shares during the period. Finally, PDS Planning Inc boosted its position in shares of HSBC by 2.4% during the 1st quarter. PDS Planning Inc now owns 13,335 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 312 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analysts Set New Price Targets

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

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.