Hang Seng Bank (OTCMKTS:HSNGY) Share Price Crosses Above 50 Day Moving Average - What's Next?

Key Points

• Hang Seng Bank's share price recently exceeded its 50-day moving average of $14.85, peaking at $15.20 before closing at $15.17.
• UBS Group downgraded Hang Seng Bank from a "hold" rating to a "strong sell" rating, contributing to the stock's consensus rating of "Reduce."
• The bank reported a dividend payment of $0.1456 per share with a dividend yield of 564.0%, despite cutting the dividend recently.

Hang Seng Bank Ltd. (OTCMKTS:HSNGY - Get Free Report)'s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $14.85 and traded as high as $15.20. Hang Seng Bank shares last traded at $15.17, with a volume of 4,592 shares changing hands.

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 note on Thursday, July 31st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Hang Seng Bank currently has a consensus rating of "Reduce".

Hang Seng Bank Stock Performance

The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.19. The business's 50-day moving average is $14.84 and its two-hundred day moving average is $14.23.

Hang Seng Bank Cuts Dividend

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