Bank of East Asia (BKEAY) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Bank of East Asia (OTCMKTS:BKEAY) from a hold rating to a buy rating in a report released on Friday morning. Zacks Investment Research currently has $4.50 price objective on the bank’s stock.

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. “

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Separately, ValuEngine upgraded shares of Bank of East Asia from a hold rating to a buy rating in a report on Friday, February 23rd.

Shares of BKEAY traded up $0.12 during midday trading on Friday, reaching $4.04. The stock had a trading volume of 100 shares, compared to its average volume of 796. Bank of East Asia has a 1-year low of $3.87 and a 1-year high of $4.61. The firm has a market capitalization of $11,004.18, a price-to-earnings ratio of 28.86, a PEG ratio of 0.92 and a beta of 1.30.

The business also recently announced a Semi-Annual dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 8th will be given a $0.067 dividend. The ex-dividend date of this dividend is Wednesday, March 7th. Bank of East Asia’s dividend payout ratio (DPR) is 92.86%.

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Bank of East Asia Company Profile

The Bank of East Asia, Limited is a company mainly engaged in the banking business. Along with subsidiaries, it operates its business through nine segments: the China Operations segment, the Personal Banking segment, the Corporate Banking segment, the Overseas Operations segment, the Wealth Management segment, the Treasury Markets segment, the Financial Institutions segment, the Other Hong Kong Banking Operations segment, the Corporate Services segment, and the Other Businesses segment.

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