Short Interest in Hang Seng Bank Ltd. (OTCMKTS:HSNGY) Rises By 500.0%

Key Points

• Short interest in Hang Seng Bank Ltd. surged by 500%, from 100 shares to 600 shares as of September 15th, reflecting increased bearish sentiment against the stock.
• The bank announced a dividend of $0.1456 per share, yielding an extraordinary 564.0%, with the payment date on September 15th.
• Analysts show mixed sentiments, with UBS Group downgrading the stock to a "strong sell" rating, while Zacks raised it to "hold", indicating ongoing uncertainty in its valuation.

Hang Seng Bank Ltd. (OTCMKTS:HSNGY - Get Free Report) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 600 shares, an increase of 500.0% from the August 31st total of 100 shares. Based on an average trading volume of 11,800 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 11,800 shares, the days-to-cover ratio is currently 0.1 days.

Hang Seng Bank Price Performance

Hang Seng Bank stock traded up $0.15 during midday trading on Wednesday, reaching $15.10. The company had a trading volume of 3,164 shares, compared to its average volume of 6,288. Hang Seng Bank has a 12-month low of $11.25 and a 12-month high of $16.34. The firm's fifty day simple moving average is $14.76 and its 200-day simple moving average is $14.28. 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 firm also recently announced a dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were paid a $0.1456 dividend. This represents a yield of 564.0%. The ex-dividend date of this dividend was Thursday, August 14th.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HSNGY shares. 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. Zacks Research raised shares of Hang Seng Bank from a "strong sell" rating to a "hold" rating in a research note on Monday. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce".

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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