Bank of East Asia Ltd (NASDAQ:BKEAY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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 up 2.74% during mid-day trading on Wednesday, reaching $4.50. The company had a trading volume of 19,129 shares. The stock has a 50 day moving average price of $4.23 and a 200-day moving average price of $4.15. Bank of East Asia has a 12-month low of $3.75 and a 12-month high of $4.50. The stock has a market capitalization of $12.26 billion and a P/E ratio of 12.93.

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