Oversea-Chinese Banking (OTCMKTS:OVCHY) Trading 3.8% Higher – Here’s What Happened

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY)’s stock price was up 3.8% on Wednesday . The company traded as high as $31.95 and last traded at $31.95. Approximately 2,584 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 20,686 shares. The stock had previously closed at $30.79.

Wall Street Analyst Weigh In

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

Oversea-Chinese Banking Stock Performance

The business has a 50 day moving average of $28.60 and a two-hundred day moving average of $26.95.

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.