China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Up – Still a Buy?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) gapped up before the market opened on Friday . The stock had previously closed at $20.00, but opened at $20.90. China CITIC Bank shares last traded at $20.90, with a volume of 240 shares trading hands.

Wall Street Analysts Forecast Growth

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

China CITIC Bank Stock Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $51.14 billion, a PE ratio of 6.06 and a beta of 0.31. The business’s 50-day moving average is $19.02 and its 200 day moving average is $19.45.

China CITIC Bank (OTCMKTS:CHCJY) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $0.79 earnings per share (EPS) for the quarter. China CITIC Bank had a net margin of 20.81% and a return on equity of 8.54%. The business had revenue of $8.19 billion during the quarter, compared to analyst estimates of $8.27 billion. On average, equities research analysts predict that China CITIC Bank Corporation Limited will post 3.88 EPS for the current fiscal year.

About China CITIC Bank

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.