Hang Seng Bank Ltd. (OTCMKTS:HSNGY) Sees Significant Decrease in Short Interest

Key Points

• Hang Seng Bank Ltd. experienced a significant drop in short interest, decreasing by 83.3% from 600 shares to just 100 shares as of September 30th.
• The bank's stock price rose by 1.6%, reaching $19.89, while its trading volume was below the average at 3,133 shares.
• Analysts have mixed views on the bank's stock, with Zacks upgrading it to "hold," while UBS downgraded it to "strong sell," resulting in a current consensus rating of "Reduce."

Hang Seng Bank Ltd. (OTCMKTS:HSNGY - Get Free Report) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 100 shares, a drop of 83.3% from the September 15th total of 600 shares. Based on an average daily volume of 12,600 shares, the short-interest ratio is presently 0.0 days. Based on an average daily volume of 12,600 shares, the short-interest ratio is presently 0.0 days.

Hang Seng Bank Stock Up 1.6%

Hang Seng Bank stock traded up $0.31 during mid-day trading on Friday, reaching $19.89. The company's stock had a trading volume of 3,133 shares, compared to its average volume of 7,046. Hang Seng Bank has a 12-month low of $11.25 and a 12-month high of $19.89. The firm's fifty day moving average price is $15.34 and its two-hundred day moving average price is $14.58.

Hang Seng Bank Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were issued a dividend of $0.1456 per share. This represents a yield of 564.0%. The ex-dividend date was Thursday, August 14th.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Zacks Research upgraded shares of Hang Seng Bank from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. UBS Group lowered shares of Hang Seng Bank from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce".

About Hang Seng Bank

Hang Seng Bank Limited, together with its subsidiaries, provides various banking and related financial services to individual, corporate, commercial, small and medium-sized enterprises, and institutional customers in Hong Kong, the Mainland of China, and internationally. It operates through five segments: Wealth and Personal Banking, Commercial Banking, Global Banking, Global Markets, and Other.

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