BOC Hong Kong (OTCMKTS:BHKLY) Trading 0.1% Higher - Still a Buy?

Key Points

• BOC Hong Kong's share price increased by 0.1% to $94.12, despite a significant decline in trading volume, down 86% from the average session.
• Goldman Sachs downgraded the stock from a "strong-buy" rating to a "neutral" rating in a recent research report.
• The company announced a substantial dividend increase, raising it from $0.73 to $3.6389, reflecting a yield of 643.0%.

Shares of BOC Hong Kong Ltd. (OTCMKTS:BHKLY - Get Free Report) rose 0.1% on Monday . The company traded as high as $94.37 and last traded at $94.12. Approximately 1,316 shares changed hands during trading, a decline of 86% from the average daily volume of 9,523 shares. The stock had previously closed at $94.00.

BOC Hong Kong Trading Down 3.8%

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.70 and a current ratio of 0.70. The stock's 50-day simple moving average is $91.59 and its two-hundred day simple moving average is $81.98.

BOC Hong Kong Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd were given a dividend of $3.6389 per share. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a yield of 643.0%. This is a boost from BOC Hong Kong's previous dividend of $0.73.

BOC Hong Kong Company Profile

BOC Hong Kong (Holdings) Limited, an investment holding company, provides banking and related financial services to corporate and individual customers in Hong Kong, China, and internationally. The company operates through four segments: Personal Banking, Corporate Banking, Treasury, and Insurance. It offers savings, current, and time deposit accounts; mortgage plans; corporate deposits, and payroll and e-cheques services.