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

HSBC Holdings plc (NYSE:HSBC) shares saw unusually-strong 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.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HSBC shares. Royal Bank of Canada reiterated a “sector perform” rating on shares of HSBC in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft downgraded HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Barclays upgraded HSBC from an “equal weight” rating to an “overweight” rating in a research report on Tuesday. Finally, StockNews.com downgraded HSBC from a “hold” rating to a “sell” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, HSBC currently has an average rating of “Hold”.

HSBC Price Performance

The stock has a fifty day moving average price of $53.30 and a 200-day moving average price of $48.27. The company has a market cap of $207.12 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 1.05 and a beta of 0.51. 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 released its earnings results on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.04. HSBC had a return on equity of 12.20% and a net margin of 16.17%. The company had revenue of $11.56 billion during the quarter, compared to analyst estimates of $13.79 billion. On average, equities analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Dividend Announcement

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

Hedge Funds Weigh In On HSBC

Several hedge funds have recently bought and sold shares of HSBC. Berbice Capital Management LLC acquired a new position in HSBC during the fourth quarter worth $25,000. Venturi Wealth Management LLC increased its position in HSBC by 58.2% during the fourth quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after buying an additional 210 shares during the last quarter. CoreCap Advisors LLC increased its position in HSBC by 342.9% during the fourth quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider’s stock worth $29,000 after buying an additional 456 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in HSBC during the fourth quarter worth $30,000. Finally, Larson Financial Group LLC increased its position in HSBC by 138.5% during the third quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock worth $35,000 after buying an additional 450 shares during the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

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.