Zacks Investment Research upgraded shares of The Bank of East Asia (OTCMKTS:BKEAY) from a hold rating to a buy rating in a research report sent to investors on Thursday, Zacks.com reports. The brokerage currently has $2.25 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. “
The Bank of East Asia stock traded up $0.07 during midday trading on Thursday, hitting $2.13. The stock had a trading volume of 651 shares, compared to its average volume of 5,954. The firm’s fifty day moving average is $2.21 and its two-hundred day moving average is $2.12. The company has a market capitalization of $6.21 billion, a PE ratio of 19.36, a P/E/G ratio of 0.91 and a beta of 0.75. The Bank of East Asia has a 52-week low of $1.70 and a 52-week high of $2.49.
About The Bank of East Asia
The Bank of East Asia, Limited, together with its subsidiaries, provides various banking and related financial services. Its personal banking services include corporate, individual, savings, current, time deposit, and supreme accounts; and fixed and call deposits, foreign currency deposits, MAS services, and auto-payroll products, as well as safe deposit boxes and remittance services.
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