Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Sees Large Decline in Short Interest

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 11,605 shares, a drop of 41.3% from the September 30th total of 19,783 shares. Based on an average trading volume of 79,432 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Zacks Research cut shares of Oversea-Chinese Banking from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 23rd. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, Oversea-Chinese Banking currently has a consensus rating of “Hold”.

Oversea-Chinese Banking Price Performance

OTCMKTS OVCHY traded down $1.21 during midday trading on Monday, hitting $44.45. The company had a trading volume of 44,758 shares, compared to its average volume of 38,266. The firm has a 50-day moving average price of $48.16 and a 200-day moving average price of $39.98. Oversea-Chinese Banking has a twelve month low of $25.83 and a twelve month high of $52.15.

Oversea-Chinese Banking Company Profile

Oversea-Chinese Banking Corporation Limited (OCBC) is a Singapore-based financial services group that provides banking, wealth management and insurance services to individuals, businesses and institutions. Its offerings include current and savings accounts, consumer and commercial loans, mortgages, credit cards, trade finance, transaction banking, treasury services and investment products.

Through its banking operations, OCBC serves retail, small-business, corporate and institutional customers.