Bank of East Asia Ltd (NASDAQ:BKEAY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $4.75 target price on the bank’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.29% from the company’s previous close.

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. “

Bank of East Asia (NASDAQ BKEAY) traded down 0.47% during mid-day trading on Monday, reaching $4.23. 181 shares of the company were exchanged. The stock has a 50-day moving average of $4.37 and a 200 day moving average of $4.18. Bank of East Asia has a 1-year low of $3.75 and a 1-year high of $4.61. The firm has a market capitalization of $11.52 billion and a P/E ratio of 12.16.

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Bank of East Asia Company Profile

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