Oversea-Chinese Banking (OTCMKTS:OVCHY) Trading 0.9% Higher – Should You Buy?

Shares of Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) shot up 0.9% during mid-day trading on Tuesday . The company traded as high as $26.8450 and last traded at $26.14. 13,529 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 20,294 shares. The stock had previously closed at $25.90.

Analysts Set New Price Targets

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

Oversea-Chinese Banking Stock Up 0.9%

The stock’s fifty day moving average price is $25.93 and its 200 day moving average price is $25.67.

Oversea-Chinese Banking Increases Dividend

The company also recently declared a dividend, which was paid on Friday, September 5th. Shareholders of record on Tuesday, August 12th were given a dividend of $0.5614 per share. The ex-dividend date was Monday, August 11th. This is a positive change from Oversea-Chinese Banking’s previous dividend of $0.24. 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.