Hang Seng Bank (OTCMKTS:HSNGY) Shares Gap Down - Time to Sell?

Key Points

• Hang Seng Bank's stock price gapped down from $15.27 to $14.73 at the opening, reflecting a decline of 3.5%.
• UBS Group has downgraded Hang Seng Bank's shares from a "hold" rating to a "strong sell" rating, with the current average rating at "Reduce."
• The bank has cut its dividend, declaring a payment of $0.1456 per share, which offers a significant yield of 564.0% to stockholders of record.

Hang Seng Bank Ltd. (OTCMKTS:HSNGY - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $15.27, but opened at $14.73. Hang Seng Bank shares last traded at $14.73, with a volume of 121 shares changing hands.

Wall Street Analysts Forecast Growth

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

Hang Seng Bank Stock Down 3.5%

The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.19. The company's fifty day moving average price is $14.84 and its two-hundred day moving average price is $14.16.

Hang Seng Bank Cuts Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.