Hang Seng Bank (OTCMKTS:HSNGY) Sets New 12-Month High - What's Next?

Key Points

• Hang Seng Bank's share price reached a new 52-week high at $20.05, closing at $19.66 with a trading volume of 3,343 shares.
• Analysts have mixed views on the stock, with Zacks upgrading it to a "hold" while UBS downgraded it to a "strong sell," resulting in an average rating of "Reduce."
• The bank recently declared a dividend of $0.1456, representing a significant yield of 564.0% paid to shareholders of record.

Hang Seng Bank Ltd. (OTCMKTS:HSNGY - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $20.05 and last traded at $19.66, with a volume of 3343 shares trading hands. The stock had previously closed at $19.91.

Wall Street Analysts Forecast Growth

HSNGY has been the subject of several analyst reports. Zacks Research upgraded shares of Hang Seng Bank from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. UBS Group cut 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 stock. According to data from MarketBeat, the company currently has an average rating of "Reduce".

Hang Seng Bank Trading Down 1.2%

The stock's fifty day moving average price is $15.55 and its two-hundred day moving average price is $14.69.

Hang Seng Bank Cuts Dividend

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

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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