Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Short Interest Update

Key Points

• Short interest fell 20.6% in April to 48,349 shares (from 60,928), giving a short-interest ratio of 0.6 days and effectively 0.0% of shares sold short.
• Zacks downgraded Oversea‑Chinese Banking from "strong-buy" to "hold," and the stock's MarketBeat consensus rating is "Hold."
• Shares traded up about 2.0% to $34.47, near the 50‑day moving average ($34.04) and above the 200‑day average ($31.32), with a 12‑month range of $24.01–$37.49.

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY - Get Free Report) was the target of a large decline in short interest in April. As of April 15th, there was short interest totaling 48,349 shares, a decline of 20.6% from the March 31st total of 60,928 shares. Based on an average daily trading volume, of 85,958 shares, the short-interest ratio is presently 0.6 days. Currently, 0.0% of the company's stock are sold short.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered Oversea-Chinese Banking from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Oversea-Chinese Banking has an average rating of "Hold".

Oversea-Chinese Banking Trading Up 2.0%

Shares of OTCMKTS OVCHY traded up $0.69 during midday trading on Thursday, reaching $34.47. The company's stock had a trading volume of 35,781 shares, compared to its average volume of 43,967. Oversea-Chinese Banking has a 12-month low of $24.01 and a 12-month high of $37.49. The firm has a 50 day moving average price of $34.04 and a 200-day moving average price of $31.32. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.88 and a quick ratio of 0.88.

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.

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