China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Up on Analyst Upgrade

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY)’s share price gapped up prior to trading on Thursday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $17.19, but opened at $19.40. China CITIC Bank shares last traded at $19.40, with a volume of 200 shares trading hands.

China CITIC Bank Price Performance

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 company has a market cap of $39.93 billion, a PE ratio of 4.83 and a beta of 0.32. The stock has a 50-day simple moving average of $18.93 and a 200 day simple moving average of $19.11.

China CITIC Bank (OTCMKTS:CHCJY) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.04 earnings per share for the quarter. The business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.86 billion. China CITIC Bank had a return on equity of 8.44% and a net margin of 20.39%. Equities analysts expect that China CITIC Bank Corporation Limited will post 3.88 EPS for the current year.

China CITIC Bank Company Profile

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.