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

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) was the recipient of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 10,527 shares, a growth of 20.1% from the January 15th total of 8,768 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 53,987 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 53,987 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the shares of the company are short sold.

Oversea-Chinese Banking Stock Down 2.2%

Shares of OTCMKTS OVCHY opened at $33.55 on Tuesday. The business has a fifty day moving average price of $31.77 and a two-hundred day moving average price of $28.43. Oversea-Chinese Banking has a fifty-two week low of $20.70 and a fifty-two week high of $35.85.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Oversea-Chinese Banking from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Strong Buy”.

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.