Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Sees Significant Decline in Short Interest

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 8,768 shares, a decline of 71.7% from the December 31st total of 30,954 shares. Based on an average daily volume of 35,786 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the company’s shares are short sold. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 35,786 shares, the short-interest ratio is presently 0.2 days.

Oversea-Chinese Banking Trading Down 0.8%

Shares of OTCMKTS:OVCHY opened at $33.73 on Thursday. Oversea-Chinese Banking has a 12-month low of $20.70 and a 12-month high of $34.93. The business’s fifty day simple moving average is $30.43 and its 200-day simple moving average is $27.78.

Wall Street Analyst Weigh In

Separately, Zacks Research raised 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, Based on data from MarketBeat, the stock has an average rating of “Strong Buy”.

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.