Zacks Investment Research upgraded shares of United Overseas Bank Ltd (NASDAQ:UOVEY) from a hold rating to a buy rating in a report released on Wednesday morning. The brokerage currently has $31.00 price target on the stock.

According to Zacks, “UOB is a leading bank in Singapore that provides a wide range of financial services through its global network of over 500 offices in 18 countries and territories in Asia-Pacific, Western Europe and North America. It has banking subsidiaries in Singapore, Malaysia, Indonesia, Thailand and mainland China. UOB is committed to playing an active and meaningful role in the community with our focus on children, education and the arts. “

Shares of United Overseas Bank (NASDAQ:UOVEY) opened at 28.03 on Wednesday. United Overseas Bank has a 1-year low of $23.41 and a 1-year high of $29.89. The firm’s 50-day moving average is $26.79 and its 200-day moving average is $27.16. The stock has a market capitalization of $22.53 billion and a price-to-earnings ratio of 9.93.

About United Overseas Bank

United Overseas Bank Limited is a bank in Asia. The Company provides a range of financial services across the globe through its segments, which include Group Retail (GR), Group Wholesale Banking (GWB) and Global Markets and Investment Management (GMIM), and Others. The GR segment covers Consumer, Privilege, Business and Private Banking.

5 Day Chart for NASDAQ:UOVEY

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