China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Down – Here’s Why

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $17.4120, but opened at $16.10. China CITIC Bank shares last traded at $16.10, with a volume of 359 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of China CITIC Bank to a “hold” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

China CITIC Bank Stock Performance

The firm’s fifty day moving average price is $19.22 and its 200 day moving average price is $19.15. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $39.39 billion, a PE ratio of 4.76 and a beta of 0.32.

China CITIC Bank (OTCMKTS:CHCJY) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.04 earnings per share (EPS) for the quarter. The business had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.86 billion. China CITIC Bank had a return on equity of 8.44% and a net margin of 20.39%. On average, research analysts anticipate that China CITIC Bank Corporation Limited will post 3.61 earnings per share for the current year.

China CITIC Bank Company Profile

China CITIC Bank Co, Ltd., a subsidiary of CITIC Group, is a leading Chinese commercial bank headquartered in Beijing. Established in the late 1980s, the bank was among the first national joint-stock commercial banks approved by the Chinese government. It is quoted on the U.S. OTC Market under the symbol CHCJY.

The bank offers a wide range of financial services, including corporate and institutional banking, retail banking, treasury and financial markets services. Corporate clients can access lending solutions, trade finance, cash management and project financing, while retail customers can choose from deposit accounts, personal loans, credit cards, wealth management and digital banking platforms.