Bank of Communications (OTCMKTS:BCMXY) Sets New 52-Week High – Here’s Why

Bank of Communications Co. (OTCMKTS:BCMXY) hit a new 52-week high during mid-day trading on Monday. The company traded as high as $27.35 and last traded at $27.35, with a volume of 189 shares changing hands. The stock had previously closed at $26.6862.

Bank of Communications Price Performance

The company’s fifty day simple moving average is $24.98 and its two-hundred day simple moving average is $22.92. The company has a market capitalization of $81.24 billion, a price-to-earnings ratio of 7.58 and a beta of -0.04.

Bank of Communications (OTCMKTS:BCMXY) last announced its quarterly earnings results on Friday, August 28th. The bank reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. Bank of Communications had a net margin of 19.23% and a return on equity of 7.91%. The company had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.32 billion. Equities research analysts expect that Bank of Communications Co. will post 4.12 earnings per share for the current year.

About Bank of Communications

Bank of Communications Co, Ltd. is a major Chinese commercial bank that provides banking and financial services to businesses, individuals, government-related institutions and other organizations. Its principal activities include corporate banking, retail banking, institutional banking, investment banking, asset management, financial markets and treasury services.

The bank offers products such as deposits, loans, payment and settlement services, trade finance, wealth management, personal banking, credit cards and foreign-exchange services.