Zacks Research lowered shares of Oversea-Chinese Banking (OTCMKTS:OVCHY – Free Report) from a strong-buy rating to a hold rating in a research note released on Tuesday,Zacks.com reports.
Oversea-Chinese Banking Stock Up 0.1%
Shares of Oversea-Chinese Banking stock opened at $32.88 on Tuesday. Oversea-Chinese Banking has a one year low of $20.70 and a one year high of $35.85. The business’s 50 day simple moving average is $32.81 and its two-hundred day simple moving average is $29.23.
Oversea-Chinese Banking Company Profile
Oversea-Chinese Banking Corporation Limited (commonly known as OCBC) is a Singapore-based regional bank that provides a broad range of banking and financial services to retail, corporate and institutional customers. Its core activities include consumer banking, wealth management, commercial and corporate banking, treasury and markets, trade finance, and transaction banking. OCBC also conducts investment banking activities and offers asset management services, and its group structure includes insurance and other financial services delivered through affiliated subsidiaries and regional units.
The bank traces its origins to a 1932 merger of several Chinese-named banks in Singapore and has since grown into one of the region’s larger financial institutions with a significant presence across Southeast Asia and Greater China.
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