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

HSBC Holdings plc (NYSE:HSBC) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 6,770,000 shares, a decrease of 8.8% from the October 31st total of 7,420,000 shares. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is currently 5.6 days. Currently, 0.2% of the shares of the company are sold short.

HSBC Stock Performance

Shares of NYSE HSBC traded up $0.46 during trading hours on Tuesday, hitting $47.47. 1,539,691 shares of the stock were exchanged, compared to its average volume of 1,655,527. The firm has a market capitalization of $171.91 billion, a P/E ratio of 7.85 and a beta of 0.56. HSBC has a one year low of $36.93 and a one year high of $47.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.96. The company’s 50 day moving average is $45.43 and its 200 day moving average is $44.17.

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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.21%. HSBC’s payout ratio is presently 32.73%.

Institutional Trading of HSBC

Several hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its stake in HSBC by 138.5% during the third quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 450 shares during the period. Family Firm Inc. acquired a new position in shares of HSBC in the 2nd quarter valued at $36,000. Ridgewood Investments LLC bought a new position in shares of HSBC during the 2nd quarter worth about $47,000. Fifth Third Bancorp increased its stake in HSBC by 128.4% in the second quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 765 shares during the period. Finally, Allworth Financial LP raised its position in HSBC by 40.9% in the third quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 397 shares in the last quarter. Institutional investors own 1.48% of the company’s stock.

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.