Hang Seng Bank (OTCMKTS:HSNGY) Stock Price Passes Below 50-Day Moving Average - Time to Sell?

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 share price passed 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 traded.

Analyst Ratings Changes

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.

Hang Seng Bank Price Performance

The firm's 50 day moving average is $14.90 and its two-hundred day moving average is $13.86. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.19.

Hang Seng Bank Cuts Dividend

The company also recently announced a dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were paid a $0.1476 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a yield of 570.0%.

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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