Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY – Get Free Report) was the target of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 15,576 shares, a decrease of 43.4% from the May 14th total of 27,519 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 74,361 shares, the short-interest ratio is presently 0.2 days.
Oversea-Chinese Banking Stock Performance
OVCHY stock opened at $36.68 on Friday. The firm has a 50-day simple moving average of $35.80 and a 200-day simple moving average of $33.28. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.88 and a quick ratio of 0.88. Oversea-Chinese Banking has a 52 week low of $24.27 and a 52 week high of $39.70.
Wall Street Analyst Weigh In
Separately, Zacks Research downgraded shares of Oversea-Chinese Banking from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.
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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