Short Interest in Hang Seng Bank Ltd. (OTCMKTS:HSNGY) Drops By 55.6%

Key Points

• Short interest for Hang Seng Bank Ltd. dropped 55.6% in July, with totals declining from 900 shares to 400 shares as of July 31st, indicating reduced short selling activity.
• UBS Group downgraded the bank's rating from "hold" to a "strong sell" on July 31st, signaling a bearish outlook from analysts.
• The bank declared a $0.1456 dividend per share to be paid on September 15th, reflecting a dividend yield of 564.0% for investors of record on August 15th.

Hang Seng Bank Ltd. (OTCMKTS:HSNGY - Get Free Report) saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 400 shares, adeclineof55.6% from the July 15th total of 900 shares. Approximately0.0% of the shares of the stock are short sold. Based on an average trading volume of 7,900 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 7,900 shares, the short-interest ratio is presently 0.1 days. Approximately0.0% of the shares of the stock are short sold.

Hang Seng Bank Price Performance

Hang Seng Bank stock traded up $0.09 during trading on Thursday, reaching $14.30. The company had a trading volume of 16,769 shares, compared to its average volume of 5,000. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.74 and a quick ratio of 0.74. Hang Seng Bank has a 12-month low of $11.25 and a 12-month high of $16.34. The stock's 50 day moving average price is $14.91 and its two-hundred day moving average price is $13.99.

Hang Seng Bank Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a $0.1456 dividend. The ex-dividend date is Thursday, August 14th. This represents a dividend yield of 564.0%.

Analyst Upgrades and Downgrades

Separately, UBS Group downgraded shares of Hang Seng Bank from a "hold" rating to a "strong sell" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently 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.