Hang Seng Bank (OTCMKTS:HSNGY) Sets New 12-Month High – What’s Next?

Hang Seng Bank Ltd. (OTCMKTS:HSNGY)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $20.05 and last traded at $19.66, with a volume of 3343 shares trading hands. The stock had previously closed at $19.91.

Wall Street Analysts Forecast Growth

HSNGY has been the subject of several analyst reports. Zacks Research upgraded shares of 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

Hang Seng Bank Trading Down 1.2%

The stock’s fifty day moving average price is $15.55 and its two-hundred day moving average price is $14.69.

Hang Seng Bank Cuts Dividend

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

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.