Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Sees Significant Decline in Short Interest

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 11,605 shares, a drop of 41.3% from the September 30th total of 19,783 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 79,432 shares, the days-to-cover ratio is presently 0.1 days.

Oversea-Chinese Banking Stock Down 0.4%

Shares of Oversea-Chinese Banking stock traded down $0.17 during trading hours on Friday, reaching $45.66. 26,160 shares of the company were exchanged, compared to its average volume of 48,579. The stock’s fifty day moving average is $48.16 and its 200 day moving average is $39.98. Oversea-Chinese Banking has a 1 year low of $25.83 and a 1 year high of $52.15.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Oversea-Chinese Banking from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Oversea-Chinese Banking Company Profile

Oversea-Chinese Banking Corporation Limited (OCBC) is a Singapore-based financial services group that provides banking, wealth management and insurance services to individuals, businesses and institutions. Its offerings include current and savings accounts, consumer and commercial loans, mortgages, credit cards, trade finance, transaction banking, treasury services and investment products.

Through its banking operations, OCBC serves retail, small-business, corporate and institutional customers.