Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Short Interest Update

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) saw a large decrease in short interest in 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. Based on an average trading volume of 74,361 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the shares of the stock are short sold.

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 research note on Tuesday, March 10th. One 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 Stock Performance

Oversea-Chinese Banking 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. Oversea-Chinese Banking has a 1-year low of $24.27 and a 1-year high of $39.70. 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 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.