Short Interest in Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Increases By 133.0%

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 60,928 shares, an increase of 133.0% from the March 15th total of 26,144 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 132,457 shares, the short-interest ratio is currently 0.5 days.

Oversea-Chinese Banking Trading Up 0.2%

OVCHY stock traded up $0.06 during mid-day trading on Monday, hitting $35.49. The company had a trading volume of 24,524 shares, compared to its average volume of 44,173. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.88. Oversea-Chinese Banking has a 12 month low of $22.94 and a 12 month high of $36.17. The stock’s fifty day moving average price is $33.62 and its two-hundred day moving average price is $30.47.

Analyst Upgrades and Downgrades

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