Zacks Research upgraded shares of Oversea-Chinese Banking (OTCMKTS:OVCHY – Free Report) from a hold rating to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.
Oversea-Chinese Banking Stock Performance
OTCMKTS OVCHY opened at $31.63 on Wednesday. Oversea-Chinese Banking has a 52-week low of $20.70 and a 52-week high of $33.31. The company has a 50-day simple moving average of $29.71 and a 200 day simple moving average of $27.39.
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.
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