Zacks Investment Research Upgrades Hang Seng Bank Ltd. (HSNGY) to “Buy”

Zacks Investment Research upgraded shares of Hang Seng Bank Ltd. (NASDAQ:HSNGY) from a sell rating to a buy rating in a report released on Tuesday, August 1st. The brokerage currently has $24.00 price target on the stock.

According to Zacks, “HANG SENG BANK is a world-class financial institution and one of Hong Kong’s largest listed companies in terms of market capitalisation. In keeping with our name, which means ever-growing in Chinese, we are growing alongside our customers. “

Hang Seng Bank (NASDAQ:HSNGY) traded down 2.57% during midday trading on Tuesday, hitting $22.35. The stock had a trading volume of 1,664 shares. The firm has a market capitalization of $42.73 billion and a price-to-earnings ratio of 18.86. Hang Seng Bank has a 1-year low of $17.20 and a 1-year high of $22.94. The firm has a 50-day moving average price of $21.56 and a 200-day moving average price of $20.75.

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Hang Seng Bank Company Profile

Hang Seng Bank Limited (the Bank) is engaged in retail banking and wealth management, commercial banking, global banking and markets, and private banking. The Bank also offers a range of renminbi services. The Bank’s segments include Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets, and Other.

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