China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Down – Here’s What Happened

Shares of China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) gapped down prior to trading on Thursday . The stock had previously closed at $21.80, but opened at $20.55. China CITIC Bank shares last traded at $20.55, with a volume of 209 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research cut shares of 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

China CITIC Bank Trading Down 5.7%

The firm has a market cap of $50.28 billion, a price-to-earnings ratio of 5.96 and a beta of 0.31. 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 business has a fifty day moving average of $19.37 and a two-hundred day moving average of $19.53.

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