Oversea-Chinese Banking (OTCMKTS:OVCHY) Sees Large Volume Increase - What's Next?

Key Points

• Oversea-Chinese Banking Corporation Limited experienced a significant increase in trading volume, with approximately 54,787 shares traded, up 189% from the previous session.
• Zacks Research downgraded the stock from a "hold" rating to a "strong sell" rating, contributing to an overall average rating of "sell" for the company.
• The bank raised its dividend to $0.5614 per share, marking a substantial increase from the previous dividend of $0.24, resulting in a yield of 502.0% for shareholders.

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY - Get Free Report) shares saw an uptick in trading volume on Monday . 54,787 shares traded hands during mid-day trading, an increase of 189% from the previous session's volume of 18,934 shares.The stock last traded at $25.73 and had previously closed at $25.75.

Wall Street Analyst Weigh In

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

Oversea-Chinese Banking Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.91. The company's 50 day moving average is $26.33 and its 200 day moving average is $25.43.

Oversea-Chinese Banking Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, September 5th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.5614 per share. The ex-dividend date was Monday, August 11th. This is a positive change from Oversea-Chinese Banking's previous dividend of $0.24. This represents a 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.