Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Short Interest Update

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) was the recipient of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 15,576 shares, a decrease of 43.4% from the May 14th total of 27,519 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 74,361 shares, the days-to-cover ratio is currently 0.2 days.

Oversea-Chinese Banking Trading Up 3.9%

Shares of OTCMKTS OVCHY traded up $1.45 during midday trading on Tuesday, reaching $38.13. 2,780 shares of the company traded hands, compared to its average volume of 41,314. The stock has a 50-day moving average price of $35.83 and a 200 day moving average price of $33.38. Oversea-Chinese Banking has a 52 week low of $24.27 and a 52 week high of $39.70. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.88 and a quick ratio of 0.88.

Wall Street Analyst Weigh In

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

About Oversea-Chinese Banking

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.