Short Interest in Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Declines By 21.1%

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) saw a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 28,260 shares, a decrease of 21.1% from the February 12th total of 35,835 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 97,897 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 97,897 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.0% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Zacks Research cut 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, Based on data from MarketBeat.com, Oversea-Chinese Banking has a consensus rating of “Hold”.

Oversea-Chinese Banking Stock Down 0.8%

OTCMKTS:OVCHY opened at $32.10 on Friday. The company has a 50 day moving average price of $32.87 and a 200-day moving average price of $29.32. Oversea-Chinese Banking has a 1-year low of $20.70 and a 1-year high of $35.85.

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.