Zacks Investment Research upgraded shares of Bank of East Asia Ltd (NASDAQ:BKEAY) from a sell rating to a buy rating in a report released on Monday morning. The firm currently has $4.75 target price 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. “

Bank of East Asia (NASDAQ:BKEAY) opened at 4.23 on Monday. The firm has a market cap of $11.52 billion and a P/E ratio of 12.16. The stock’s 50 day moving average is $4.39 and its 200 day moving average is $4.20. Bank of East Asia has a 12-month low of $3.75 and a 12-month high of $4.61.

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