Short Interest in HSBC Holdings plc (NYSE:HSBC) Decreases By 19.4%

by · The Cerbat Gem

HSBC Holdings plc (NYSE:HSBCGet Free Report) saw a significant decrease in short interest in March. As of March 31st, there was short interest totaling 6,260,929 shares, a decrease of 19.4% from the March 15th total of 7,765,014 shares. Based on an average trading volume of 2,250,748 shares, the short-interest ratio is currently 2.8 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HSBC. Mather Group LLC. purchased a new position in HSBC during the third quarter worth about $25,000. Transamerica Financial Advisors LLC raised its holdings in HSBC by 287.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in HSBC during the third quarter worth about $26,000. Retirement Wealth Solutions LLC purchased a new position in HSBC during the third quarter worth about $32,000. Finally, Binnacle Investments Inc raised its holdings in HSBC by 80.5% during the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 198 shares in the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on HSBC shares. The Goldman Sachs Group started coverage on shares of HSBC in a research note on Thursday, March 26th. They issued a “buy” rating for the company. Zacks Research raised shares of HSBC from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Citigroup reaffirmed a “buy” rating on shares of HSBC in a report on Friday, January 9th. Morgan Stanley assumed coverage on shares of HSBC in a report on Wednesday, January 14th. They issued an “equal weight” rating for the company. Finally, Weiss Ratings cut shares of HSBC from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, HSBC has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

View Our Latest Report on HSBC

HSBC News Summary

Here are the key news stories impacting HSBC this week:

HSBC Stock Performance

Shares of NYSE:HSBC traded up $1.65 on Friday, reaching $92.17. The company’s stock had a trading volume of 1,407,055 shares, compared to its average volume of 2,118,900. The stock’s 50-day moving average is $85.86 and its two-hundred day moving average is $78.90. HSBC has a 52-week low of $51.60 and a 52-week high of $94.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $316.61 billion, a P/E ratio of 15.23, a PEG ratio of 0.90 and a beta of 0.55.

HSBC (NYSE:HSBCGet Free Report) last announced its earnings results on Saturday, February 14th. The financial services provider reported $1.35 EPS for the quarter. HSBC had a net margin of 16.07% and a return on equity of 13.10%. The business had revenue of $17.70 billion during the quarter. As a group, sell-side analysts forecast that HSBC will post 6.66 EPS for the current year.

HSBC Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 13th will be issued a dividend of $2.25 per share. This is an increase from HSBC’s previous quarterly dividend of $0.50. This represents a $9.00 annualized dividend and a yield of 9.8%. The ex-dividend date of this dividend is Friday, March 13th. HSBC’s dividend payout ratio is currently 148.43%.

About HSBC

(Get Free Report)

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.

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