China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Up – Here’s Why

Shares of China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) gapped up prior to trading on Wednesday. The stock had previously closed at $19.45, but opened at $21.33. China CITIC Bank shares last traded at $21.33, with a volume of 293 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut China CITIC Bank from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. One research analyst has rated the stock with a Hold rating. According to MarketBeat.com, China CITIC Bank currently has a consensus rating of “Hold”.

China CITIC Bank Trading Up 9.7%

The company has a market cap of $52.19 billion, a PE ratio of 6.18 and a beta of 0.31. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.82. The company’s 50 day simple moving average is $20.46 and its two-hundred day simple moving average is $19.86.

China CITIC Bank (OTCMKTS:CHCJY) last released its quarterly earnings results on Wednesday, August 26th. The company reported $0.79 EPS for the quarter. The business had revenue of $8.19 billion during the quarter, compared to analyst estimates of $8.27 billion. China CITIC Bank had a return on equity of 8.35% and a net margin of 20.81%. As a group, sell-side analysts anticipate that China CITIC Bank Corporation Limited will post 3.88 EPS for the current fiscal year.

China CITIC Bank Company Profile

China CITIC Bank Corporation Limited is a commercial bank headquartered in Beijing and a member of CITIC Group, a major Chinese financial and industrial conglomerate. Established in 1987, the bank provides banking and financial services to corporate, institutional and individual customers in China and selected international markets.

The bank’s corporate banking activities include deposits, loans, trade finance, transaction banking, cash management and settlement services. It also provides financing and advisory services to businesses, government-related entities and financial institutions, with coverage across sectors such as manufacturing, infrastructure, energy and technology.

For individual customers, China CITIC Bank offers deposits, personal lending, credit cards, wealth management, payments and other retail banking products.