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

OVERSEA-CHINESE BK (OTCMKTS:OVCHY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $21.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.60% from the stock’s previous close.

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. “

Shares of OVERSEA-CHINESE BK (OVCHY) opened at $18.65 on Wednesday. The company has a market capitalization of $38,656.16 and a P/E ratio of 14.07. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.90 and a current ratio of 0.90. OVERSEA-CHINESE BK has a 52 week low of $12.09 and a 52 week high of $18.95.

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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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