Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY – Get Free Report) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 33,243 shares, a growth of 113.4% from the May 31st total of 15,576 shares. Based on an average trading volume of 55,653 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.0% of the company’s stock are sold short.
Oversea-Chinese Banking Stock Down 0.8%
Oversea-Chinese Banking stock opened at $38.12 on Thursday. 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 fifty day moving average is $36.56 and its two-hundred day moving average is $34.19. Oversea-Chinese Banking has a 1-year low of $24.89 and a 1-year high of $40.19.
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 data from MarketBeat, the company 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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