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

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 11,605 shares, a decline of 41.3% from the September 30th total of 19,783 shares. Based on an average trading volume of 79,432 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded shares of Oversea-Chinese Banking from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Oversea-Chinese Banking Price Performance

Shares of Oversea-Chinese Banking stock traded down $0.17 during mid-day trading on Friday, reaching $45.66. 26,160 shares of the stock traded hands, compared to its average volume of 48,579. The business has a 50-day moving average of $48.16 and a 200 day moving average of $39.98. Oversea-Chinese Banking has a fifty-two week low of $25.83 and a fifty-two week high of $52.15.

About Oversea-Chinese Banking

Oversea-Chinese Banking Corporation Limited (OCBC) is a Singapore-based financial services group that provides banking, wealth management and insurance services to individuals, businesses and institutions. Its offerings include current and savings accounts, consumer and commercial loans, mortgages, credit cards, trade finance, transaction banking, treasury services and investment products.

Through its banking operations, OCBC serves retail, small-business, corporate and institutional customers.