Oversea-Chinese Banking (OTCMKTS:OVCHY) Hits New 52-Week High – Should You Buy?

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY)’s stock price hit a new 52-week high on Friday . The company traded as high as $33.6860 and last traded at $33.6860, with a volume of 1119 shares traded. The stock had previously closed at $32.21.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Oversea-Chinese Banking from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Oversea-Chinese Banking Price Performance

The stock has a fifty day moving average price of $30.09 and a 200-day moving average price of $27.63.

Oversea-Chinese Banking Company Profile

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.