Oversea-Chinese Banking (OTCMKTS:OVCHY) Sets New 52-Week High – Here’s What Happened

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) reached a new 52-week high on Friday . The stock traded as high as $33.6860 and last traded at $33.6860, with a volume of 1119 shares changing hands. The stock had previously closed at $32.21.

Wall Street Analyst Weigh In

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

Oversea-Chinese Banking Trading Up 3.5%

The stock has a 50 day moving average of $29.99 and a 200-day moving average of $27.56.

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.