China Merchants Bank Co. (OTCMKTS:CIHKY) Sees Significant Decrease in Short Interest

China Merchants Bank Co. (OTCMKTS:CIHKY) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 8,993 shares, a drop of 32.1% from the August 15th total of 13,247 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 49,420 shares, the days-to-cover ratio is presently 0.2 days.

China Merchants Bank Stock Performance

Shares of OTCMKTS:CIHKY opened at $32.48 on Thursday. China Merchants Bank has a 1 year low of $27.26 and a 1 year high of $34.88. The stock has a market capitalization of $163.80 billion, a P/E ratio of 7.83 and a beta of 0.20. The stock has a 50-day simple moving average of $31.49 and a 200-day simple moving average of $30.97.

China Merchants Bank (OTCMKTS:CIHKY) last posted its earnings results on Friday, August 28th. The company reported $1.09 earnings per share (EPS) for the quarter. China Merchants Bank had a net margin of 32.69% and a return on equity of 12.45%. The firm had revenue of $13.01 billion during the quarter, compared to the consensus estimate of $12.98 billion. Analysts predict that China Merchants Bank will post 4.51 earnings per share for the current year.

China Merchants Bank Company Profile

China Merchants Bank Co, Ltd. is a commercial bank headquartered in Shenzhen, China. Established in 1987 as part of China Merchants Group, the bank has developed into a major financial services provider with a strong focus on retail banking and technology-enabled services.

The bank offers deposits, personal and corporate loans, credit cards, payment services, wealth management, investment banking, asset management and financial-market services. It serves individual customers, small and medium-sized businesses, large corporations and institutional clients through its banking network and digital platforms.