China CITIC Bank (OTCMKTS:CHCJY) Trading Up 6% – Should You Buy?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY)’s stock price shot up 6% during mid-day trading on Wednesday . The stock traded as high as $21.19 and last traded at $21.19. 1,902 shares were traded during mid-day trading, a decline of 48% from the average session volume of 3,647 shares. The stock had previously closed at $20.00.

Analyst Ratings Changes

Separately, Zacks Research downgraded shares of China CITIC Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, China CITIC Bank presently has a consensus rating of “Hold”.

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 $51.85 billion, a P/E ratio of 6.14 and a beta of 0.31. The stock’s 50-day moving average is $19.02 and its two-hundred day moving average is $19.45.

China CITIC Bank (OTCMKTS:CHCJY) last issued its earnings results on Wednesday, August 26th. The company reported $0.79 earnings per share (EPS) for the quarter. The firm had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $8.27 billion. China CITIC Bank had a return on equity of 8.54% and a net margin of 20.81%. Equities research analysts anticipate that China CITIC Bank Corporation Limited will post 3.88 EPS for the current year.

China CITIC Bank Company Profile

China CITIC Bank Corporation Limited is a commercial bank headquartered in Beijing and a subsidiary of China CITIC Group Corporation. Established in 1987, it serves corporate, institutional and individual customers through a broad range of banking and financial services.

The bank’s business includes corporate lending, trade finance, settlement and cash-management services, investment banking, financial-market operations and asset management. For retail customers, China CITIC Bank provides deposits, consumer and residential loans, credit cards, wealth-management products, payments and other personal banking services.

China CITIC Bank operates throughout mainland China through its branch and service network and also maintains an international presence, including operations serving customers in Hong Kong and other overseas markets.