Short Interest in Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Rises By 240.4%

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) saw a large increase in short interest in February. As of February 13th, there was short interest totaling 35,835 shares, an increase of 240.4% from the January 29th total of 10,527 shares. Based on an average daily volume of 79,508 shares, the short-interest ratio is presently 0.5 days. Approximately 0.0% of the shares of the stock are short sold. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 79,508 shares, the short-interest ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Oversea-Chinese Banking from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Oversea-Chinese Banking currently has a consensus rating of “Strong Buy”.

Oversea-Chinese Banking Stock Up 2.7%

Shares of OVCHY traded up $0.92 during mid-day trading on Thursday, hitting $34.75. 6,059 shares of the stock were exchanged, compared to its average volume of 31,524. Oversea-Chinese Banking has a 52-week low of $20.70 and a 52-week high of $35.85. The firm has a 50-day moving average of $32.36 and a two-hundred day moving average of $28.78.

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.