Hang Seng Bank (OTCMKTS:HSNGY) Share Price Passes Below 50-Day Moving Average - Here's Why

Key Points

• Hang Seng Bank's share price fell below its 50-day moving average of $14.90, trading at $14.43 with a volume of 9,552 shares.
• Analyst ratings dropped significantly, with UBS Group changing their recommendation from "hold" to "strong sell" as of July 31st.
• The bank announced a substantial dividend yield of 570.0%, with a recent dividend payment of $0.1476 recorded on June 16th.

Hang Seng Bank Ltd. (OTCMKTS:HSNGY - Get Free Report)'s stock price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $14.90 and traded as low as $14.41. Hang Seng Bank shares last traded at $14.43, with a volume of 9,552 shares trading 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 report on Thursday, July 31st.

Hang Seng Bank Price Performance

The firm's 50 day moving average is $14.92 and its 200 day moving average is $13.92. 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 business also recently announced a dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend 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.