China CITIC Bank (OTCMKTS:CHCJY) Stock Price Up 4.2% – Time to Buy?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY – Get Free Report)’s stock price shot up 4.2% during mid-day trading on Wednesday . The company traded as high as $21.42 and last traded at $21.42. Approximately 396 shares traded hands during trading, a decline of 89% from the average daily volume of 3,447 shares. The stock had previously closed at $20.55.

Wall Street Analyst Weigh In

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

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Read Our Latest Analysis on CHCJY

China CITIC Bank Price Performance

The stock’s 50 day moving average is $19.71 and its two-hundred day moving average is $19.59. The stock has a market capitalization of $52.41 billion, a PE ratio of 6.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.82.

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

China CITIC Bank Company Profile

(Get Free Report)

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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