Oversea-Chinese Banking (OTCMKTS:OVCHY) Hits New 12-Month High – Time to Buy?

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $37.9710 and last traded at $37.9710, with a volume of 2852 shares changing hands. The stock had previously closed at $36.66.

Analyst Upgrades and Downgrades

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

Oversea-Chinese Banking Price Performance

The firm has a 50 day moving average of $34.64 and a two-hundred day moving average of $32.27. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.88.

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.