Oversea-Chinese Banking (OTCMKTS:OVCHY) Shares Gap Up – Here’s Why

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY – Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $38.35, but opened at $39.39. Oversea-Chinese Banking shares last traded at $38.64, with a volume of 1,763 shares trading hands.

Analysts Set New Price Targets

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

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Oversea-Chinese Banking Stock Up 1.1%

The business has a 50-day simple moving average of $36.36 and a two-hundred day simple moving average of $33.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.88 and a quick ratio of 0.88.

About Oversea-Chinese Banking

(Get Free Report)

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.

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