Oversea-Chinese Banking (OTCMKTS:OVCHY) Sets New 52-Week High – Time to Buy?

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY)’s stock price hit a new 52-week high on Friday . The stock traded as high as $37.9710 and last traded at $37.9710, with a volume of 2852 shares trading hands. The stock had previously closed at $36.66.

Analysts Set New Price Targets

Separately, Zacks Research cut Oversea-Chinese Banking from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Oversea-Chinese Banking Trading Up 0.3%

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50 day moving average price of $34.71 and a 200 day moving average price of $32.31.

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.