Oversea-Chinese Banking (OTCMKTS:OVCHY) Hits New 12-Month High – What’s Next?

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $33.31 and last traded at $33.31, with a volume of 424 shares trading hands. The stock had previously closed at $30.7250.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Oversea-Chinese Banking from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Oversea-Chinese Banking Trading Up 0.1%

The company has a fifty day simple moving average of $28.22 and a 200-day simple moving average of $26.81.

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.