Bank of East Asia (OTCMKTS:BKEAY) Upgraded by Zacks Investment Research to Buy

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Zacks Investment Research upgraded shares of Bank of East Asia (OTCMKTS:BKEAY) from a hold rating to a buy rating in a report released on Tuesday, September 18th. The brokerage currently has $4.00 price target on the bank’s stock.

According to Zacks, “Bank E Asia has dedicated itself to service on behalf of the people of Hong Kong and customers in China and overseas. BEA is the largest independent local bank in Hong Kong. BEA offers a full range of wholesale and retail banking services covering corporate banking, personal banking, investment banking and China services. Products ranging from deposits, foreign currency savings, mortgage loans, consumer loans, credit cards, Cyberbanking, Mandatory Provident Fund services, trade finance, syndicated loans, remittances and foreign exchange margin trading. “

A number of other brokerages have also recently issued reports on BKEAY. Goldman Sachs Group upgraded Bank of East Asia from a sell rating to a neutral rating in a report on Tuesday, August 14th. ValuEngine cut Bank of East Asia from a hold rating to a sell rating in a report on Monday, July 2nd.

Shares of OTCMKTS BKEAY traded down $0.15 on Tuesday, reaching $3.30. 699 shares of the company traded hands, compared to its average volume of 2,681. Bank of East Asia has a fifty-two week low of $3.30 and a fifty-two week high of $4.54. The company has a market cap of $10.30 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.76 and a beta of 1.25.

The business also recently declared a Semi-Annual dividend, which will be paid on Monday, October 22nd. Shareholders of record on Thursday, September 13th will be issued a $0.057 dividend. The ex-dividend date is Wednesday, September 12th. Bank of East Asia’s dividend payout ratio is presently 40.74%.

Bank of East Asia Company Profile

The Bank of East Asia, Limited provides various banking and related financial services. It operates through nine segments: Personal Banking, Corporate Banking, Treasury Markets, Wealth Management, Financial Institutions, Others, China Operations, Overseas Operations, and Corporate Services. The company offers various commercial and personal banking, financial, and insurance services.

Further Reading: Closed-End Mutual Funds

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