OVERSEA-CHINESE BK (OVCHY) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of OVERSEA-CHINESE BK (OTCMKTS:OVCHY) from a buy rating to a hold rating in a report published on Tuesday.

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 (OVCHY) opened at $18.36 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $39,232.81, a P/E ratio of 14.02, a P/E/G ratio of 3.47 and a beta of 0.73. OVERSEA-CHINESE BK has a 12-month low of $13.05 and a 12-month high of $20.51.

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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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