HSBC (NYSE:HSBC) Sees Unusually-High Trading Volume – Time to Buy?

Shares of HSBC Holdings plc (NYSE:HSBC) saw strong trading volume on Wednesday . 4,389,847 shares were traded during trading, an increase of 157% from the previous session’s volume of 1,707,540 shares.The stock last traded at $58.15 and had previously closed at $57.77.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HSBC shares. Deutsche Bank Aktiengesellschaft cut shares of HSBC from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating on shares of HSBC in a research report on Monday, February 3rd.

HSBC Stock Performance

The stock has a 50-day moving average price of $51.58 and a 200-day moving average price of $47.39. The company has a market capitalization of $208.40 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 1.05 and a beta of 0.54. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96.

HSBC (NYSE:HSBC) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.04. The company had revenue of $11.56 billion during the quarter, compared to analysts’ expectations of $13.79 billion. HSBC had a net margin of 16.17% and a return on equity of 12.20%. As a group, analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 7th will be issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 12.37%. The ex-dividend date of this dividend is Friday, March 7th. HSBC’s dividend payout ratio is 115.81%.

Institutional Investors Weigh In On HSBC

A number of institutional investors have recently modified their holdings of HSBC. Berbice Capital Management LLC acquired a new stake in HSBC in the 4th quarter worth about $25,000. Venturi Wealth Management LLC increased its stake in HSBC by 58.2% during the 4th quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 210 shares during the period. CoreCap Advisors LLC lifted its position in shares of HSBC by 342.9% during the 4th quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 456 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of HSBC during the 4th quarter worth $30,000. Finally, Larson Financial Group LLC raised its stake in HSBC by 138.5% in the third quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 450 shares in the last quarter. 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.