Chiba Bank (OTCMKTS:CHBAY) Sees Strong Trading Volume – Still a Buy?

Shares of Chiba Bank Ltd. (OTCMKTS:CHBAY – Get Free Report) saw an uptick in trading volume on Monday . Approximately 2,995 shares traded hands during trading, an increase of 69% from the previous session’s volume of 1,773 shares.The stock last traded at $88.01 and had previously closed at $87.8780.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Chiba Bank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

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Chiba Bank Stock Down 1.0%

The business’s 50-day moving average is $79.43 and its two-hundred day moving average is $69.94. The firm has a market capitalization of $13.49 billion, a price-to-earnings ratio of 18.42 and a beta of 0.09. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.95.

Chiba Bank (OTCMKTS:CHBAY – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.24. Chiba Bank had a net margin of 20.96% and a return on equity of 8.21%. The firm had revenue of $420.93 million during the quarter, compared to analysts’ expectations of $392.86 million. On average, equities analysts anticipate that Chiba Bank Ltd. will post 5.51 earnings per share for the current year.

Chiba Bank Company Profile

(Get Free Report)

Chiba Bank, Ltd. (OTCMKTS: CHBAY) is a regional commercial bank headquartered in Chiba City, Japan. Established in 1943, the bank offers a broad range of banking and financial services to individual, corporate and public sector clients. As one of the largest financial institutions in Chiba Prefecture, Chiba Bank plays a central role in supporting local economic activity and community development.

The bank’s core business activities include deposit-taking, lending, and trust services. Chiba Bank provides retail customers with savings accounts, fixed-term deposits, personal loans and mortgage financing.

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