Malayan Banking Berhad (OTCMKTS:MLYBY) Shares Down 11% – Here’s Why

Malayan Banking Berhad (OTCMKTS:MLYBY)’s share price was down 11% on Wednesday . The company traded as low as $4.70 and last traded at $4.70. Approximately 745 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 757 shares. The stock had previously closed at $5.28.

Wall Street Analyst Weigh In

Separately, Macquarie upgraded shares of Malayan Banking Berhad to a “strong-buy” rating in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Malayan Banking Berhad currently has a consensus rating of “Strong Buy”.

Malayan Banking Berhad Stock Down 11.0%

The business’s 50 day moving average price is $4.94 and its 200-day moving average price is $4.65.

About Malayan Banking Berhad

Malayan Banking Berhad, commonly known as Maybank, is a Malaysian universal bank established in 1960. Headquartered in Kuala Lumpur, the bank offers a full range of financial services to both retail and corporate clients. Its core business activities encompass consumer and commercial banking, treasury and markets, investment banking, and Islamic banking solutions under its Maybank Islamic arm. Maybank’s product suite also extends to asset management, insurance, and digital financial services designed to serve individual and business customers.

Throughout its history, Maybank has expanded through organic growth and strategic acquisitions to become one of Southeast Asia’s leading financial institutions.