OVERSEA-CHINESE/ADR (OVCHY) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of OVERSEA-CHINESE/ADR (OTCMKTS:OVCHY) from a hold rating to a buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $18.00 target price on the stock.

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. “

Separately, ValuEngine cut shares of OVERSEA-CHINESE/ADR from a hold rating to a sell rating in a research note on Friday, August 3rd.

Shares of OVCHY stock opened at $16.41 on Wednesday. OVERSEA-CHINESE/ADR has a 52-week low of $14.95 and a 52-week high of $21.27. The company has a market capitalization of $34.68 billion, a price-to-earnings ratio of 11.64 and a beta of 0.72. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75.

OVERSEA-CHINESE/ADR Company Profile

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

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