Chiba Bank (OTCMKTS:CHBAY) Sets New 52-Week High – Still a Buy?

Shares of Chiba Bank Ltd. (OTCMKTS:CHBAY) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $85.80 and last traded at $85.80, with a volume of 103 shares. The stock had previously closed at $78.67.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Chiba Bank from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

Chiba Bank Price Performance

The stock has a market cap of $13.31 billion, a price-to-earnings ratio of 19.32 and a beta of 0.10. The company has a 50 day simple moving average of $73.61 and a 200-day simple moving average of $64.91. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.40.

Chiba Bank Company Profile

Chiba Bank, Ltd. (OTCMKTS: CHBAY) is a regional commercial bank headquartered in Chiba City, Japan. Established in 1943, the bank offers a broad range of banking and financial services to individual, corporate and public sector clients. As one of the largest financial institutions in Chiba Prefecture, Chiba Bank plays a central role in supporting local economic activity and community development.

The bank’s core business activities include deposit-taking, lending, and trust services. Chiba Bank provides retail customers with savings accounts, fixed-term deposits, personal loans and mortgage financing.