Oversea-Chinese Banking (OTCMKTS:OVCHY) Hits New 1-Year High – Should You Buy?

Shares of Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) reached a new 52-week high during trading on Friday . The stock traded as high as $33.6860 and last traded at $33.6860, with a volume of 1119 shares. The stock had previously closed at $32.21.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Oversea-Chinese Banking from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

Oversea-Chinese Banking Stock Up 3.5%

The firm has a fifty day moving average of $29.99 and a two-hundred day moving average of $27.56.

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.