Hang Seng Bank (OTCMKTS:HSNGY) Stock Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• Hang Seng Bank's stock price fell below its 50-day moving average of $14.90, with the latest trading price at $14.32.
• UBS Group downgraded Hang Seng Bank's rating from "hold" to "strong sell", indicating a shift in analyst sentiment.
• The bank announced a dividend payout of $0.1456 per share, with a yield of 564.0%, payable on September 15th.

Hang Seng Bank Ltd. (OTCMKTS:HSNGY - Get Free Report)'s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $14.90 and traded as low as $14.31. Hang Seng Bank shares last traded at $14.32, with a volume of 7,101 shares trading hands.

Analyst Ratings Changes

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

Hang Seng Bank Stock Down 0.7%

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a 50 day simple moving average of $14.90 and a two-hundred day simple moving average of $14.08.

Hang Seng Bank Cuts Dividend

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

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.