Oversea-Chinese Banking (OTCMKTS:OVCHY) Shares Gap Up – Time to Buy?

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $38.86, but opened at $40.98. Oversea-Chinese Banking shares last traded at $40.7550, with a volume of 1,143 shares.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of Oversea-Chinese Banking from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Oversea-Chinese Banking presently has an average rating of “Hold”.

Oversea-Chinese Banking Price Performance

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average price of $36.68 and a 200 day moving average price of $34.32.

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.