Oversea-Chinese Banking (OTCMKTS:OVCHY) Sees Strong Trading Volume - Here's Why

Key Points

• Oversea-Chinese Banking shares experienced a significant increase in trading volume, with approximately 41,426 shares traded, marking a 116% rise compared to the previous session.
• Analysts have downgraded the stock from a "hold" rating to a "strong sell", with an average rating of "Sell" according to MarketBeat.com.
• The company announced a new dividend of $0.5614 per share, a substantial increase from its previous dividend of $0.24.

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 41,426 shares traded hands during trading, an increase of 116% from the previous session's volume of 19,170 shares.The stock last traded at $26.10 and had previously closed at $26.02.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded shares of Oversea-Chinese Banking from a "hold" rating to a "strong sell" rating in a research report on Friday, September 12th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Oversea-Chinese Banking presently has an average rating of "Sell".

Oversea-Chinese Banking Stock Performance

The business's 50-day simple moving average is $26.00 and its 200 day simple moving average is $25.51.

Oversea-Chinese Banking Increases Dividend

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

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.

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