Hang Seng Bank (OTCMKTS:HSNGY) Reaches New 52-Week High – Still a Buy?

Hang Seng Bank Ltd. (OTCMKTS:HSNGY)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $20.17 and last traded at $19.59, with a volume of 1995 shares traded. The stock had previously closed at $19.44.

Analyst Ratings Changes

HSNGY has been the topic of several analyst reports. Zacks Research raised Hang Seng Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. 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. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Hang Seng Bank presently has an average rating of “Reduce”.

Hang Seng Bank Stock Performance

The business’s 50 day moving average is $16.58 and its two-hundred day moving average is $15.21.

Hang Seng Bank Cuts Dividend

The business also recently declared 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.

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.