Zacks Investment Research downgraded shares of Bank of East Asia Ltd (NASDAQ:BKEAY) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
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. “
Shares of Bank of East Asia (NASDAQ:BKEAY) opened at 4.50 on Wednesday. Bank of East Asia has a 12 month low of $3.75 and a 12 month high of $4.40. The stock’s 50 day moving average is $4.28 and its 200 day moving average is $4.16. The stock has a market capitalization of $12.26 billion and a PE ratio of 12.93.
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About Bank of East Asia
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