Oversea-Chinese Banking (OTCMKTS:OVCHY) Hits New 12-Month High – Should You Buy?

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $37.49 and last traded at $35.96, with a volume of 39724 shares traded. The stock had previously closed at $35.91.

Analysts Set New Price Targets

Separately, Zacks Research lowered 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, Based on data from MarketBeat.com, Oversea-Chinese Banking has a consensus rating of “Hold”.

Oversea-Chinese Banking Price Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50-day moving average of $33.99 and a two-hundred day moving average of $31.01.

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.