China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Up – Should You Buy?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY – Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $20.55, but opened at $21.71. China CITIC Bank shares last traded at $21.71, with a volume of 108 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded shares of China CITIC Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

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China CITIC Bank Stock Performance

The firm has a market capitalization of $53.12 billion, a P/E ratio of 6.29 and a beta of 0.31. The company’s fifty day moving average is $19.71 and its 200-day moving average is $19.59. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.27.

China CITIC Bank (OTCMKTS:CHCJY – Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $0.79 earnings per share (EPS) for the quarter. China CITIC Bank had a net margin of 20.81% and a return on equity of 8.54%. The business had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $8.27 billion. As a group, sell-side analysts anticipate that China CITIC Bank Corporation Limited will post 3.88 earnings per share for the current fiscal year.

About China CITIC Bank

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China CITIC Bank Corporation Limited is a commercial bank headquartered in Beijing and a subsidiary of China CITIC Group Corporation. Established in 1987, it serves corporate, institutional and individual customers through a broad range of banking and financial services.

The bank’s business includes corporate lending, trade finance, settlement and cash-management services, investment banking, financial-market operations and asset management. For retail customers, China CITIC Bank provides deposits, consumer and residential loans, credit cards, wealth-management products, payments and other personal banking services.

China CITIC Bank operates throughout mainland China through its branch and service network and also maintains an international presence, including operations serving customers in Hong Kong and other overseas markets.

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