Hang Seng Bank (OTCMKTS:HSNGY) Shares Gap Up - Here's Why

Key Points

• Hang Seng Bank's shares have gapped up from $14.34 to $14.86 before the market opened, indicating increased investor interest.
• Analysts have downgraded the bank's rating from "hold" to a "strong sell," with a consensus rating of "Reduce."
• The bank announced a dividend payment of $0.1456 per share, yielding 564%, to be paid on September 15th.

Hang Seng Bank Ltd. (OTCMKTS:HSNGY - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $14.34, but opened at $14.86. Hang Seng Bank shares last traded at $14.86, with a volume of 107 shares traded.

Analysts Set New Price Targets

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

Hang Seng Bank Stock Up 1.9%

The company's 50 day moving average price is $14.93 and its 200-day moving average price is $13.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.74 and a current ratio of 0.74.

Hang Seng Bank Cuts Dividend

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

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