Hang Seng Bank (OTCMKTS:HSNGY) Shares Gap Up - What's Next?

Key Points

• Hang Seng Bank shares gapped up, opening at $15.20 after a previous close of $14.60, and last traded at $15.16 with a trading volume of 4,712 shares.
• UBS Group downgraded Hang Seng Bank from a "hold" to a "strong sell" rating, contributing to a consensus rating of "Reduce" among analysts.
• The bank recently announced a dividend of $0.1456 per share, leading to an unusually high yield of 564.0%.

Shares of Hang Seng Bank Ltd. (OTCMKTS:HSNGY - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $14.60, but opened at $15.20. Hang Seng Bank shares last traded at $15.16, with a volume of 4,712 shares.

Analyst Upgrades and Downgrades

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

Hang Seng Bank Stock Up 3.8%

The company has a fifty day moving average price of $14.80 and a 200 day moving average price of $14.25. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.19.

Hang Seng Bank Cuts Dividend

The business also recently declared a dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were issued a dividend of $0.1456 per share. The ex-dividend date 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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