OVERSEA-CHINESE BK (OVCHY) Upgraded to “Buy” at Zacks Investment Research

OVERSEA-CHINESE BK (OTCMKTS:OVCHY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, February 28th. The firm presently has a $23.00 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 15.12% from the company’s current price.

According to Zacks, “Oversea-Chinese Banking Corp. Ltd. is a commercial bank. It offers both financial and banking services. The bank’s segments comprises The Global Consumer/Private Banking segment which offers checking accounts, fixed deposits, savings, consumer loans, credit cards, wealth management products, and brokerage services. The Global Corporate/Investment Banking segment provides project financing, overdrafts, deposit accounts, trade financing, syndicated loans, advisory services, and cash management. The Global Treasury and Markets segment deals with foreign exchange rates, money market, fixed income and derivatives trading. The Insurance segment offers fund management as well as life and general insurance. The OCBC Wing Hang segment engages in commercial banking activities. The Others segment includes property and investment holding operations. Oversea-Chinese Banking Corp. Ltd is headquartered in Singapore. “

OVERSEA-CHINESE BK stock traded down $0.41 during midday trading on Wednesday, hitting $19.98. 5,340 shares of the company were exchanged, compared to its average volume of 24,924. OVERSEA-CHINESE BK has a twelve month low of $13.47 and a twelve month high of $20.89. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $42,294.27, a P/E ratio of 15.40, a P/E/G ratio of 3.51 and a beta of 0.83.

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Oversea-Chinese Banking Corporation Limited provides financial services in Singapore, Malaysia, Indonesia, Greater China, other parts of the Asia Pacific, and internationally. Its Global Consumer/Private Banking segment provides a range of products and services to individuals, including checking accounts, and savings and fixed deposits; consumer loans, such as housing loans, car loans, and other personal loans; credit and debit cards; wealth management products consisting of unit trusts, bancassurance products, and structured deposits; and brokerage services.

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