Oversea-Chinese Banking (OTCMKTS:OVCHY) Sees Strong Trading Volume – Time to Buy?

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) saw unusually-high trading volume on Monday . Approximately 34,891 shares changed hands during mid-day trading, an increase of 70% from the previous session’s volume of 20,546 shares.The stock last traded at $30.7140 and had previously closed at $30.34.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Oversea-Chinese Banking from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Oversea-Chinese Banking Price Performance

The company has a 50-day simple moving average of $27.73 and a 200 day simple moving average of $26.63.

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.