Bank of East Asia (OTCMKTS:BKEAY) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Bank of East Asia (OTCMKTS:BKEAY) from a sell rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

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. “

Several other equities research analysts also recently weighed in on the company. ValuEngine raised Bank of East Asia from a sell rating to a hold rating in a report on Wednesday, October 2nd. CICC Research downgraded Bank of East Asia from a hold rating to a sell rating in a report on Thursday, June 13th.

BKEAY traded down $0.03 during mid-day trading on Wednesday, reaching $2.34. The stock had a trading volume of 100 shares, compared to its average volume of 1,716. The firm’s fifty day simple moving average is $2.48 and its two-hundred day simple moving average is $2.85. Bank of East Asia has a 52 week low of $2.35 and a 52 week high of $3.87. The stock has a market capitalization of $6.66 billion, a P/E ratio of 9.00 and a beta of 0.96.

The company also recently declared a Semi-Annual dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, September 5th will be given a $0.012 dividend. The ex-dividend date is Wednesday, September 4th. Bank of East Asia’s dividend payout ratio is currently 7.69%.

About Bank of East Asia

The Bank of East Asia, Limited provides various banking and related financial services. It operates through eight segments: Personal Banking, Corporate Banking, Treasury Markets, Wealth Management, Financial Institutions, Others, Mainland China Operations, and Overseas Operations. The company offers various commercial and personal banking, financial, and insurance services.

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