ANZ (ANZBY) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of ANZ (OTCMKTS:ANZBY) from a sell rating to a hold rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Austria and New Zealand Banking’s principal activities are the provision of general banking services, hire purchase and general finance, life assurance, property development, mortgage lending and other financial services. The Group operates within Australia, New Zealand, Europe, Asia, the Americas and the Middle East. “

ANZBY has been the subject of a number of other reports. Citigroup cut ANZ from a buy rating to a neutral rating in a research note on Tuesday, March 5th. Credit Suisse Group cut ANZ from a neutral rating to an underperform rating in a research note on Wednesday, May 1st. ValuEngine cut ANZ from a hold rating to a sell rating in a research note on Friday, March 1st. Finally, Goldman Sachs Group lowered ANZ from a buy rating to a neutral rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $22.00.

Shares of ANZ stock opened at $18.57 on Tuesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.18 and a quick ratio of 1.18. ANZ has a 12 month low of $15.98 and a 12 month high of $22.28.

The firm also recently announced a Semi-Annual dividend, which will be paid on Thursday, July 11th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.553 per share. The ex-dividend date of this dividend is Friday, May 10th. ANZ’s dividend payout ratio is presently 64.16%.

ANZ Company Profile

Australia and New Zealand Banking Group Limited provides various banking and financial products and services. The company's Australia division offers retail products and services to consumers through the branch network, mortgage specialists, contact centers, and third party brokers, as well as self-service channels, such as Internet banking, phone banking, ATMs, Website, and digital banking; and banking products and financial services, including asset financing to medium to large commercial customers, agribusiness customers, small business owners, high net worth individuals, and family groups.

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