Hang Seng Bank (OTCMKTS:HSNGY) Shares Pass Above 50-Day Moving Average - What's Next?

Key Points

• Hang Seng Bank's share price has surpassed its 50-day moving average of $14.84, closing at $15.27 with a trading volume of 1,658 shares.
• UBS Group has downgraded the stock from a "hold" rating to a "strong sell", contributing to a consensus rating of "Reduce" among analysts.
• The bank announced a dividend of $0.1456 per share, with a yield of 564.0%, to be paid on September 15th.

Hang Seng Bank Ltd. (OTCMKTS:HSNGY - Get Free Report)'s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $14.84 and traded as high as $15.27. Hang Seng Bank shares last traded at $15.27, with a volume of 1,658 shares traded.

Analyst Ratings Changes

Separately, UBS Group lowered Hang Seng Bank from a "hold" rating to a "strong sell" rating in a 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce".

Hang Seng Bank Price Performance

The company has a 50 day moving average of $14.84 and a 200-day moving average of $14.16. 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 firm also recently disclosed 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. The ex-dividend date of this dividend is 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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