DBS Group (OTCMKTS:DBSDY) Sees Large Volume Increase – Still a Buy?

DBS Group Holdings Ltd (OTCMKTS:DBSDY) saw strong trading volume on Friday. Approximately 176,394 shares changed hands during trading, an increase of 251% from the average daily volume of 50,295 shares. The stock last traded at $217.00 and had previously closed at $217.86.

Analyst Ratings Changes

Separately, Zacks Research downgraded DBS Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, DBS Group presently has an average rating of “Moderate Buy”.

DBS Group Stock Down 0.8%

The business has a 50 day moving average price of $237.26 and a 200 day moving average price of $207.17.

About DBS Group

DBS Group Holdings is a Singapore-based financial services group whose principal subsidiary is DBS Bank. Established in 1968 as the Development Bank of Singapore, it was created to support the country’s industrial development and has since grown into a major banking group in Asia.

The company provides consumer and business banking, wealth management, corporate and investment banking, treasury services, and transaction banking. Its offerings include deposits, loans, credit cards, investment products, and cash-management and trade-finance services.

DBS serves customers across markets including Singapore, Hong Kong, mainland China, India, and other parts of Asia.