Hang Seng Bank (OTCMKTS:HSNGY) Share Price Passes Above Fifty Day Moving Average - Here's What Happened

Key Points

• Hang Seng Bank's stock price has crossed above its 50-day moving average, trading at $15.25, with a volume of 12,174 shares exchanged.
• Recent analyst ratings show mixed opinions, with Zacks upgrading the stock to a "hold" while UBS has downgraded it to a "strong sell," resulting in a consensus rating of "Reduce."
• The company disclosed a dividend of $0.1456, which has a yield of 564.0%, indicating a significant return for shareholders despite recent trading volatility.

Hang Seng Bank Ltd. (OTCMKTS:HSNGY - Get Free Report)'s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $14.76 and traded as high as $15.32. Hang Seng Bank shares last traded at $15.25, with a volume of 12,174 shares changing hands.

Analysts Set New Price Targets

HSNGY has been the topic of a number of recent research 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 downgraded Hang Seng Bank from a "hold" rating to a "strong sell" rating in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce".

Hang Seng Bank Stock Down 1.0%

The firm has a fifty day simple moving average of $14.76 and a two-hundred day simple moving average of $14.34.

Hang Seng Bank Cuts Dividend

The company also recently disclosed a dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were issued a $0.1456 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a 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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