Bank of Communications (OTCMKTS:BCMXY) Shares Gap Down – What’s Next?

Bank of Communications Co. (OTCMKTS:BCMXY) shares gapped down prior to trading on Thursday. The stock had previously closed at $27.35, but opened at $24.64. Bank of Communications shares last traded at $24.64, with a volume of 248 shares changing hands.

Bank of Communications Price Performance

The stock has a 50 day simple moving average of $25.35 and a two-hundred day simple moving average of $22.62. The company has a market cap of $73.19 billion, a PE ratio of 6.83 and a beta of -0.04.

Bank of Communications (OTCMKTS:BCMXY) last announced its earnings results on Friday, August 28th. The bank reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. Bank of Communications had a net margin of 19.23% and a return on equity of 7.91%. The business had revenue of $10.32 billion during the quarter, compared to analysts’ expectations of $10.32 billion. As a group, equities analysts anticipate that Bank of Communications Co. will post 4.22 EPS for the current fiscal year.

About Bank of Communications

Bank of Communications Co, Ltd. is a Chinese commercial bank headquartered in Shanghai. Established in 1908, it is one of China’s oldest banking institutions and has developed into a large, diversified financial services group serving individuals, businesses, government-related organizations and institutional clients.

The bank provides personal and corporate banking services, including deposits, loans, payments, settlement, credit cards and wealth management. Its broader offerings include investment banking, asset management, financial markets and treasury services, as well as financing and advisory solutions for corporate and institutional customers.

Bank of Communications serves customers through a nationwide branch and digital banking network in mainland China and maintains an international presence through operations and subsidiaries in markets that include Hong Kong and other overseas financial centers.