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

Shares of Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) gapped up before the market opened on Wednesday . The stock had previously closed at $16.54, but opened at $17.27. Industrial & Commercial Bank of China Ltd. shares last traded at $17.28, with a volume of 1,776 shares.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Industrial & Commercial Bank of China Ltd. to a “hold” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Industrial & Commercial Bank of China Ltd. has a consensus rating of “Hold”.

Industrial & Commercial Bank of China Ltd. Stock Up 4.8%

The stock has a market cap of $308.83 billion, a PE ratio of 6.10 and a beta of 0.11. The business has a fifty day moving average of $17.46 and a 200-day moving average of $16.90. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.87 and a quick ratio of 0.87.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.04). Industrial & Commercial Bank of China Ltd. had a return on equity of 8.95% and a net margin of 24.78%.The firm had revenue of $32.05 billion for the quarter, compared to analysts’ expectations of $30.88 billion. Equities research analysts anticipate that Industrial & Commercial Bank of China Ltd. will post 3.01 earnings per share for the current year.

Industrial & Commercial Bank of China Ltd. Company Profile

Industrial & Commercial Bank of China Ltd. (ICBC) is a state-owned commercial bank headquartered in Beijing. Founded in 1984, ICBC has grown into one of the world’s largest banking institutions by total assets, operating a diversified financial services business that serves corporate, institutional and retail clients. The bank provides deposit-taking and lending, trade and transaction banking, treasury and markets services, as well as a range of payment and settlement solutions.

ICBC’s product and service offerings span corporate banking, retail banking, and investment banking, including corporate loans, supply?chain and trade finance, cash management, credit and debit cards, mortgages and consumer finance, wealth-management products, custody and asset-management services.