Oversea-Chinese Banking (OTCMKTS:OVCHY) Shares Gap Down – Time to Sell?

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) shares gapped down before the market opened on Friday . The stock had previously closed at $26.17, but opened at $24.89. Oversea-Chinese Banking shares last traded at $24.89, with a volume of 946 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded Oversea-Chinese Banking from a “hold” rating to a “strong sell” rating in a report on Friday, September 12th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Oversea-Chinese Banking Price Performance

The firm’s fifty day moving average price is $25.93 and its 200-day moving average price is $25.59.

Oversea-Chinese Banking Increases Dividend

The company also recently announced a dividend, which was paid on Friday, September 5th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.5614 per share. This is a boost from Oversea-Chinese Banking’s previous dividend of $0.24. The ex-dividend date was Monday, August 11th. This represents a yield of 502.0%.

About Oversea-Chinese Banking

Oversea-Chinese Banking Corporation Limited engages in the provision of financial services in Singapore, Malaysia, Indonesia, Greater China, rest of the Asia Pacific, and internationally. The company's Global Consumer/Private Banking segment provides products and services to individual customers, including checking accounts, and savings and fixed deposits; housing and other personal loans; credit cards; wealth management products consisting of unit trusts, banc assurance products, and structured deposits; and brokerage services.