DBS Group Holdings Ltd (OTCMKTS:DBSDY) Experiences a 33.8% Drop in Short Interest

DBS Group Holdings Ltd (OTCMKTS:DBSDY - Get Free Report) experienced a notable decline in short interest throughout February. By February 28th, the total short interest was 4,300 shares, marking a 33.8% decrease from the 6,500 shares reported on February 13th. Given the average daily trading volume of 72,900 shares, the current days-to-cover ratio stands at 0.1 days. It is worth mentioning that approximately 0.0% of the stock's shares are currently sold short.

Analyst Ratings Update

In a separate update, Citigroup has upgraded its rating for DBS Group from "hold" to "strong-buy" as of January 3rd. This positive review reflects analysts' confidence in the company's future performance.

DBS Group Stock Performance

During trading on a recent Friday, DBS Group's shares rose by $0.79, reaching a price of $133.27. This trading session recorded a volume of 26,632 shares, which is below the average volume of 40,197. The company's stock has seen a 52-week low of $92.94 and a high of $143.99. The 50-day moving average for the stock is $132.89, while the 200-day moving average sits at $125.69.

Dividend Announcement

DBS Group also announced an upcoming dividend, which is set to be disbursed on April 28th. Shareholders who are on record as of April 8th will receive a dividend of $1.8021 per share, which represents an increase from the previous dividend amount of $1.64. The ex-dividend date is also April 8th.

About DBS Group

DBS Group Holdings Ltd specializes in commercial banking and financial services across Singapore, Hong Kong, greater China, South Asia, and Southeast Asia. Their Consumer Banking and Wealth Management division provides a variety of banking and financial solutions, including accounts, loans, investment products, and insurance tailored for individual customers.

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DBS, Stocks, Finance