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

Shares of Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY – Get Free Report) gapped up prior to trading on Tuesday. The stock had previously closed at $43.29, but opened at $44.8953. Oversea-Chinese Banking shares last traded at $44.76, with a volume of 7,985 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Jefferies Financial Group raised shares of Oversea-Chinese Banking from a “hold” rating to a “strong-buy” rating in a research report on Friday. Zacks Research lowered Oversea-Chinese Banking from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Read Our Latest Stock Report on Oversea-Chinese Banking

Oversea-Chinese Banking Stock Up 0.9%

The company has a fifty day moving average of $47.53 and a 200 day moving average of $40.35.

About Oversea-Chinese Banking

(Get Free Report)

Oversea-Chinese Banking Corporation Limited (OCBC) is a Singapore-based financial services group offering banking, insurance and asset management services. Its businesses include consumer and commercial banking, corporate and investment banking, private banking, treasury services, and wealth management. The group also operates through subsidiaries and affiliates, including Great Eastern, which provides insurance, and Bank of Singapore, its private banking business. Its asset management activities include Lion Global Investors.

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