Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Shares Gap Down – Should You Sell?

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) shares gapped down prior to trading on Monday. The stock had previously closed at $20.33, but opened at $19.59. Industrial & Commercial Bank of China Ltd. shares last traded at $20.3008, with a volume of 33,073 shares traded.

Analyst Ratings Changes

Separately, Zacks Research raised Industrial & Commercial Bank of China Ltd. to a “hold” rating in a research note on Monday, October 26th. One investment analyst has rated the stock with a Hold rating. According to MarketBeat.com, Industrial & Commercial Bank of China Ltd. currently has an average rating of “Hold”.

Industrial & Commercial Bank of China Ltd. Stock Down 0.3%

The firm has a market capitalization of $360.33 billion, a PE ratio of 6.70 and a beta of 0.10. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50-day moving average price of $19.42 and a 200 day moving average price of $17.93.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last released its earnings results on Friday, October 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.02. The firm had revenue of $33.20 billion during the quarter, compared to analysts’ expectations of $32.99 billion. Industrial & Commercial Bank of China Ltd. had a return on equity of 9.02% and a net margin of 25.30%. Analysts forecast that Industrial & Commercial Bank of China Ltd. will post 3.22 earnings per share for the current year.

Industrial & Commercial Bank of China Ltd. Company Profile

Industrial & Commercial Bank of China Limited (ICBC) is a state-controlled commercial bank headquartered in Beijing. Established in 1984, it provides financial services to individuals, businesses, government entities and financial institutions. Its offerings include deposits, loans, payment and settlement services, credit cards, wealth management, asset management, investment banking, custody and treasury services. ICBC also serves customers outside mainland China through overseas branches and subsidiaries, supporting cross-border banking and international business.