HSBC (NYSE:HSBC) Sees Strong Trading Volume – Here’s What Happened

Shares of HSBC Holdings plc (NYSE:HSBC) saw unusually-high trading volume on Thursday . Approximately 2,499,269 shares were traded during trading, an increase of 54% from the previous session’s volume of 1,621,720 shares.The stock last traded at $59.96 and had previously closed at $61.58.

Analyst Upgrades and Downgrades

HSBC has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut shares of HSBC from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Barclays upgraded shares of HSBC from an “equal weight” rating to an “overweight” rating in a report on Tuesday. StockNews.com cut shares of HSBC from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating on shares of HSBC in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

HSBC Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96. The company’s 50 day moving average is $53.30 and its two-hundred day moving average is $48.27. The firm has a market cap of $207.12 billion, a P/E ratio of 9.36, a PEG ratio of 1.05 and a beta of 0.51.

HSBC (NYSE:HSBC) last released its earnings results on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.04. HSBC had a net margin of 16.17% and a return on equity of 12.20%. The business had revenue of $11.56 billion during the quarter, compared to analysts’ expectations of $13.79 billion. On average, sell-side analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 7th will be paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 12.40%. The ex-dividend date is Friday, March 7th. HSBC’s payout ratio is presently 115.81%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriflex Group Inc. bought a new position in HSBC during the fourth quarter worth about $86,000. Forum Financial Management LP lifted its stake in HSBC by 61.6% during the fourth quarter. Forum Financial Management LP now owns 43,317 shares of the financial services provider’s stock worth $2,142,000 after purchasing an additional 16,516 shares during the period. Vise Technologies Inc. lifted its stake in HSBC by 1.4% during the fourth quarter. Vise Technologies Inc. now owns 20,203 shares of the financial services provider’s stock worth $999,000 after purchasing an additional 270 shares during the period. Principal Street Partners LLC lifted its stake in HSBC by 21.1% during the fourth quarter. Principal Street Partners LLC now owns 5,798 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 1,012 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in HSBC by 16.4% during the fourth quarter. Two Sigma Advisers LP now owns 58,100 shares of the financial services provider’s stock worth $2,874,000 after purchasing an additional 8,200 shares during the period. Institutional investors own 1.48% of the company’s stock.

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.