Zacks Investment Research cut shares of United Overseas Bank Ltd (NASDAQ:UOVEY) from a buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “UOB is a leading bank in Singapore that provides a wide range of financial services through its global network of over 500 offices in 18 countries and territories in Asia-Pacific, Western Europe and North America. It has banking subsidiaries in Singapore, Malaysia, Indonesia, Thailand and mainland China. UOB is committed to playing an active and meaningful role in the community with our focus on children, education and the arts. “

Shares of United Overseas Bank (NASDAQ:UOVEY) opened at 27.915 on Tuesday. United Overseas Bank has a 12-month low of $23.41 and a 12-month high of $29.89. The stock’s 50 day moving average price is $26.82 and its 200 day moving average price is $27.17. The company has a market capitalization of $22.43 billion and a PE ratio of 9.885.

About United Overseas Bank

United Overseas Bank Limited is a bank in Asia. The Company provides a range of financial services across the globe through its segments, which include Group Retail (GR), Group Wholesale Banking (GWB) and Global Markets and Investment Management (GMIM), and Others. The GR segment covers Consumer, Privilege, Business and Private Banking.

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