China CITIC Bank (OTCMKTS:CHCJY) Trading Down 15.9% – Time to Sell?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) shares dropped 15.9% during trading on Friday . The company traded as low as $16.00 and last traded at $16.32. Approximately 1,362 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 4,698 shares. The stock had previously closed at $19.40.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded China CITIC Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has a consensus rating of “Strong Buy”.

China CITIC Bank Trading Down 15.9%

The stock’s fifty day moving average price is $19.02 and its 200 day moving average price is $19.13. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.27. The stock has a market cap of $39.93 billion, a PE ratio of 4.83 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 for the quarter. The company had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.86 billion. China CITIC Bank had a net margin of 20.39% and a return on equity of 8.44%. On average, sell-side analysts forecast that China CITIC Bank Corporation Limited will post 3.88 EPS for the current year.

About China CITIC Bank

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.