Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Sees Large Decrease in Short Interest

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) was the recipient of a significant decrease in short interest in 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 sold short. Based on an average daily volume of 97,897 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 97,897 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

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

Oversea-Chinese Banking Price Performance

Shares of OTCMKTS OVCHY traded up $0.41 during trading on Monday, hitting $32.51. 50,753 shares of the company were exchanged, compared to its average volume of 38,847. Oversea-Chinese Banking has a 1 year low of $20.70 and a 1 year high of $35.85. The firm’s fifty day moving average price is $32.87 and its 200 day moving average price is $29.34.

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.