Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Short Interest Up 52.2% in August

Key Points

• The short interest for Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) rose by 52.2% in August, increasing from 4,600 shares to 7,000 shares by August 31st.
• The company declared a dividend of $0.5614 per share on September 5th, significantly higher than the previous dividend of $0.24, showcasing a yield of 502.0%.
• As of recent trading, shares of OVCHY were priced at $26.14, having experienced a slight decrease of 0.5% during midday trading.

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY - Get Free Report) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 7,000 shares, a growth of 52.2% from the August 15th total of 4,600 shares. Based on an average daily trading volume, of 22,200 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the shares of the company are short sold. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 22,200 shares, the days-to-cover ratio is presently 0.3 days.

Oversea-Chinese Banking Trading Down 0.6%

Shares of Oversea-Chinese Banking stock traded down $0.15 during trading on Friday, reaching $25.65. The company had a trading volume of 12,665 shares, compared to its average volume of 18,694. Oversea-Chinese Banking has a fifty-two week low of $20.70 and a fifty-two week high of $27.95. The firm's fifty day moving average is $26.36 and its 200-day moving average is $25.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.91 and a current ratio of 0.91.

Oversea-Chinese Banking Increases Dividend

The company also recently declared a dividend, which was paid on Friday, September 5th. Shareholders of record on Tuesday, August 12th were paid a $0.5614 dividend. The ex-dividend date was Monday, August 11th. This is an increase from Oversea-Chinese Banking's previous dividend of $0.24. This represents a dividend yield of 502.0%.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Oversea-Chinese Banking from a "hold" rating to a "strong sell" rating in a report on Friday, September 12th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell".

Oversea-Chinese Banking Company Profile

Oversea-Chinese Banking Corporation Limited engages in the provision of financial services in Singapore, Malaysia, Indonesia, Greater China, rest of the Asia Pacific, and internationally. The company's Global Consumer/Private Banking segment provides products and services to individual customers, including checking accounts, and savings and fixed deposits; housing and other personal loans; credit cards; wealth management products consisting of unit trusts, banc assurance products, and structured deposits; and brokerage services.