Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Short Interest Up 113.4% in June

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 33,243 shares, an increase of 113.4% from the May 31st total of 15,576 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 55,653 shares, the days-to-cover ratio is currently 0.6 days.

Oversea-Chinese Banking Price Performance

Oversea-Chinese Banking stock opened at $38.50 on Wednesday. Oversea-Chinese Banking has a 52-week low of $24.89 and a 52-week high of $40.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50 day moving average price is $36.51 and its two-hundred day moving average price is $34.13.

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 investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Oversea-Chinese Banking currently has a consensus rating of “Hold”.

About Oversea-Chinese Banking

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.