Zacks Research Downgrades Chiba Bank (OTCMKTS:CHBAY) to Hold

Chiba Bank (OTCMKTS:CHBAY) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Chiba Bank Stock Performance

Shares of Chiba Bank stock opened at $90.24 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.26. Chiba Bank has a 12-month low of $62.28 and a 12-month high of $90.24. The firm has a market capitalization of $14.00 billion, a price-to-earnings ratio of 19.12 and a beta of 0.10. The firm’s 50 day simple moving average is $86.11 and its two-hundred day simple moving average is $75.57.

Chiba Bank (OTCMKTS:CHBAY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.24. Chiba Bank had a net margin of 20.96% and a return on equity of 8.25%. The business had revenue of $420.93 million during the quarter, compared to analysts’ expectations of $392.86 million. Analysts predict that Chiba Bank will post 5.51 EPS for the current year.

About Chiba Bank

Chiba Bank, Ltd. is a Japanese regional financial institution headquartered in Chiba City, Chiba Prefecture. Established in 1943, the bank provides banking and financial services to individuals, businesses, local governments and other organizations.

Its primary activities include accepting deposits, extending loans, handling domestic and international payments, and providing foreign-exchange services. Chiba Bank also offers investment trusts, insurance products, asset-management services and other financial products through its branch network and affiliated companies.

The bank’s core operating area is Chiba Prefecture, with additional operations and business relationships in neighboring parts of the greater Tokyo metropolitan area and other locations.