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

Zacks Investment Research cut shares of Bank of East Asia (OTCMKTS:BKEAYGet Rating) from a buy rating to a hold rating in a research note issued to investors on Wednesday, 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. “

OTCMKTS:BKEAY opened at $1.42 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $1.51 and its two-hundred day moving average is $1.54. Bank of East Asia has a 52 week low of $1.36 and a 52 week high of $2.11.

The company also recently announced a dividend, which was paid on Monday, April 18th. Shareholders of record on Thursday, March 10th were issued a dividend of $0.0394 per share. This represents a yield of 4.86%. The ex-dividend date of this dividend was Wednesday, March 9th.

About Bank of East Asia (Get Rating)

The Bank of East Asia, Limited, together with its subsidiaries, provides various banking and related financial services. Its personal banking services include corporate, individual, savings, current, time deposit, and supreme accounts; and fixed and call deposits, foreign currency deposits, MAS services, and auto-payroll products, as well as safe deposit boxes and remittance services.

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