China Merchants Bank (OTCMKTS:CIHKY) Stock Falls 2% – Here’s Why

China Merchants Bank Co. (OTCMKTS:CIHKY) shares traded down 2% during mid-day trading on Friday. The company traded as low as $33.79 and last traded at $33.86. 14,514 shares traded hands during trading, a decline of 43% from the average session volume of 25,332 shares. The stock had previously closed at $34.55.

China Merchants Bank Stock Down 2.0%

The company has a market cap of $170.79 billion, a PE ratio of 8.16 and a beta of 0.18. The firm’s fifty day simple moving average is $32.48 and its 200-day simple moving average is $31.26.

China Merchants Bank (OTCMKTS:CIHKY) last released its quarterly earnings results on Friday, August 28th. The company reported $1.09 EPS for the quarter. China Merchants Bank had a net margin of 32.69% and a return on equity of 12.45%. The business had revenue of $13.01 billion for the quarter, compared to analyst estimates of $12.98 billion. On average, analysts predict that China Merchants Bank Co. will post 4.51 earnings per share for the current year.

China Merchants Bank Company Profile

China Merchants Bank Co, Ltd. is a commercial bank headquartered in Shenzhen, China. Founded in 1987, it provides banking and financial services to individuals, businesses, and institutional clients through its operations in mainland China and selected international markets.

The bank’s retail banking activities include deposits, consumer and mortgage lending, credit cards, wealth management, private banking, payments, and digital banking services. Its corporate and institutional businesses provide working-capital and other loans, trade finance, cash management, investment banking, custody, foreign-exchange services, and financial-market products.

China Merchants Bank also operates through subsidiaries and affiliates involved in areas such as wealth management, financial leasing, fund management, and securities and investment services.