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

HSBC Holdings plc (NYSE:HSBC) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 9,650,000 shares, a growth of 36.7% from the February 13th total of 7,060,000 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 2,210,000 shares, the days-to-cover ratio is currently 4.4 days.

Analysts Set New Price Targets

HSBC has been the subject of several recent analyst reports. Barclays upgraded HSBC from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft lowered HSBC from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of HSBC in a research note on Monday, February 3rd. UBS Group reaffirmed a “neutral” rating on shares of HSBC in a research note on Thursday, March 6th. Finally, StockNews.com raised HSBC from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, HSBC currently has a consensus rating of “Moderate Buy”.

HSBC Trading Up 1.2 %

Shares of NYSE HSBC traded up $0.70 during midday trading on Tuesday, hitting $58.52. The stock had a trading volume of 525,143 shares, compared to its average volume of 2,651,420. The company has a market capitalization of $208.74 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.05 and a beta of 0.51. HSBC has a 1-year low of $38.34 and a 1-year high of $61.88. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average price of $54.14 and a 200 day moving average price of $48.87.

HSBC (NYSE:HSBC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.41 by $0.04. The firm had revenue of $11.56 billion for the quarter, compared to analyst estimates of $13.79 billion. HSBC had a return on equity of 12.20% and a net margin of 16.17%. On average, analysts predict that HSBC will post 6.66 earnings per share for the current year.

HSBC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 7th will be given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 12.30%. The ex-dividend date is Friday, March 7th. HSBC’s payout ratio is 115.81%.

Hedge Funds Weigh In On HSBC

A number of institutional investors have recently made changes to their positions in HSBC. Prime Capital Investment Advisors LLC raised its position in shares of HSBC by 4.3% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 8,268 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 341 shares in the last quarter. Huntington National Bank raised its position in shares of HSBC by 11.9% in the 3rd quarter. Huntington National Bank now owns 2,122 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 226 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of HSBC in the 3rd quarter valued at approximately $263,000. Drive Wealth Management LLC raised its position in shares of HSBC by 6.4% in the 3rd quarter. Drive Wealth Management LLC now owns 6,771 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 407 shares in the last quarter. Finally, Caprock Group LLC increased its holdings in shares of HSBC by 12.8% in the 3rd quarter. Caprock Group LLC now owns 39,566 shares of the financial services provider’s stock valued at $1,788,000 after acquiring an additional 4,490 shares during the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

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.