Bank of Communications (OTCMKTS:BCMXY) Shares Gap Down – What’s Next?

Bank of Communications Co. (OTCMKTS:BCMXY) gapped down before the market opened on Friday. The stock had previously closed at $26.6862, but opened at $25.40. Bank of Communications shares last traded at $25.40, with a volume of 188 shares.

Bank of Communications Stock Down 7.1%

The firm’s 50-day moving average price is $25.25 and its two-hundred day moving average price is $23.01. The firm has a market capitalization of $75.45 billion, a PE ratio of 7.04 and a beta of -0.04.

Bank of Communications (OTCMKTS:BCMXY) last released its earnings results on Friday, August 28th. The bank reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. The company had revenue of $10.32 billion during the quarter, compared to the consensus estimate of $10.32 billion. Bank of Communications had a net margin of 19.23% and a return on equity of 7.91%. Equities research analysts forecast that Bank of Communications Co. will post 4.12 EPS for the current year.

About Bank of Communications

Bank of Communications Co, Ltd. is a major Chinese commercial bank that provides banking and financial services to businesses, individuals, government-related institutions and other organizations. Its principal activities include corporate banking, retail banking, institutional banking, investment banking, asset management, financial markets and treasury services.

The bank offers products such as deposits, loans, payment and settlement services, trade finance, wealth management, personal banking, credit cards and foreign-exchange services.