Hang Seng Bank (OTCMKTS:HSNGY) Hits New 52-Week High - Should You Buy?

Key Points

• Hang Seng Bank shares recently reached a new 52-week high of $19.00, closing at $18.80, compared to a previous close of $15.25.
• Recent analyst ratings show a mixed outlook for the bank, with Zacks upgrading it to a "hold" while UBS downgraded it to a "strong sell", resulting in an average rating of "Reduce."
• The bank's latest dividend yield stands at an extraordinary 564.0%, with the most recent payment made on September 15th.

Hang Seng Bank Ltd. (OTCMKTS:HSNGY - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $19.00 and last traded at $18.80, with a volume of 1991 shares. The stock had previously closed at $15.25.

Analyst Upgrades and Downgrades

HSNGY has been the topic of a number of recent research reports. Zacks Research upgraded Hang Seng Bank from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. UBS Group downgraded Hang Seng Bank from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Hang Seng Bank presently has an average rating of "Reduce".

Hang Seng Bank Price Performance

The firm has a fifty day moving average of $14.76 and a 200 day moving average of $14.34.

Hang Seng Bank Cuts Dividend

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

Hang Seng Bank Company Profile

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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