HSBC (NYSE:HSBC) Sees Unusually-High Trading Volume – Here’s Why

HSBC Holdings plc (NYSE:HSBC) shares saw strong trading volume on Thursday . 2,499,269 shares changed hands 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

Several equities analysts recently commented on HSBC shares. Deutsche Bank Aktiengesellschaft downgraded shares of HSBC from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. StockNews.com cut shares of HSBC from a “hold” rating to a “sell” rating in a research report on Monday. Barclays upgraded HSBC from an “equal weight” rating to an “overweight” rating in a research report on Tuesday. Finally, Royal Bank of Canada reissued a “sector perform” rating on shares of HSBC in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

HSBC Stock Down 3.5 %

The stock’s 50-day simple moving average is $52.92 and its 200-day simple moving average is $48.09. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $212.04 billion, a P/E ratio of 9.59, a P/E/G ratio of 1.05 and a beta of 0.51.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.45 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 the consensus estimate of $13.79 billion. As a group, research analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 dividend yield of 12.11%. The ex-dividend date of this dividend is Friday, March 7th. HSBC’s dividend payout ratio (DPR) is currently 115.81%.

Institutional Trading of HSBC

Several hedge funds have recently added to or reduced their stakes in the stock. Berbice Capital Management LLC purchased a new position in HSBC in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC lifted its position in shares of HSBC by 58.2% during the 4th quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after buying an additional 210 shares during the last quarter. CoreCap Advisors LLC grew its stake 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 worth $29,000 after acquiring an additional 456 shares during the period. Whipplewood Advisors LLC bought a new stake in HSBC in the 4th quarter valued at about $30,000. Finally, Larson Financial Group LLC increased its stake in shares of HSBC by 138.5% in the third quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 450 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.