China CITIC Bank (OTCMKTS:CHCJY) Shares Up 6% – Time to Buy?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY – Get Free Report)’s stock price traded up 6% during mid-day trading on Wednesday . The company traded as high as $21.19 and last traded at $21.19. 1,902 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 3,647 shares. The stock had previously closed at $20.00.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded China CITIC Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, China CITIC Bank currently has an average rating of “Strong Buy”.

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China CITIC Bank Stock Up 6.0%

The stock has a market cap of $51.85 billion, a price-to-earnings ratio of 6.14 and a beta of 0.31. The stock has a 50 day simple moving average of $18.87 and a 200 day simple moving average of $19.42. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.27.

China CITIC Bank (OTCMKTS:CHCJY – Get Free Report) last issued its earnings results on Wednesday, August 26th. The company reported $0.79 earnings per share (EPS) for the quarter. The company had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $8.27 billion. China CITIC Bank had a return on equity of 8.54% and a net margin of 20.81%. As a group, analysts expect 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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