China CITIC Bank (OTCMKTS:CHCJY) Shares Up 8.1% – Time to Buy?

Shares of China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) shot up 8.1% during trading on Thursday . The stock traded as high as $20.60 and last traded at $20.60. Approximately 393 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 3,944 shares. The stock had previously closed at $19.05.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of China CITIC Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, China CITIC Bank has an average rating of “Strong Buy”.

China CITIC Bank Stock Performance

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $50.40 billion, a P/E ratio of 6.09 and a beta of 0.31. The stock has a 50-day simple moving average of $18.59 and a 200-day simple moving average of $19.27.

About China CITIC Bank

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.