Hang Seng Bank (OTCMKTS:HSNGY) Reaches New 52-Week High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HSNGY shares. Zacks Research raised Hang Seng Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. UBS Group cut Hang Seng Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Hang Seng Bank presently has an average rating of “Reduce”.

Hang Seng Bank Price Performance

The company has a 50-day moving average of $16.89 and a 200-day moving average of $15.32.

Hang Seng Bank Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were given a dividend of $0.1456 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a yield of 564.0%.

Hang Seng Bank Company Profile

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.