Chiba Bank (OTCMKTS:CHBAY) Sets New 12-Month High – Here’s Why

Chiba Bank Ltd. (OTCMKTS:CHBAY) shares hit a new 52-week high on Wednesday . The company traded as high as $87.8780 and last traded at $87.8780, with a volume of 195 shares trading hands. The stock had previously closed at $85.80.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Chiba Bank from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Chiba Bank Stock Performance

The company has a debt-to-equity ratio of 1.40, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50 day simple moving average of $79.12 and a 200-day simple moving average of $69.70. The firm has a market cap of $13.63 billion, a PE ratio of 18.62 and a beta of 0.09.

Chiba Bank (OTCMKTS:CHBAY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.11 by $0.24. Chiba Bank had a net margin of 20.96% and a return on equity of 8.21%. The firm had revenue of $420.93 million for the quarter, compared to the consensus estimate of $392.86 million. As a group, equities research analysts anticipate that Chiba Bank Ltd. will post 5.51 EPS for the current year.

About Chiba Bank

Chiba Bank, Ltd. (OTCMKTS: CHBAY) is a regional commercial bank headquartered in Chiba City, Japan. Established in 1943, the bank offers a broad range of banking and financial services to individual, corporate and public sector clients. As one of the largest financial institutions in Chiba Prefecture, Chiba Bank plays a central role in supporting local economic activity and community development.

The bank’s core business activities include deposit-taking, lending, and trust services. Chiba Bank provides retail customers with savings accounts, fixed-term deposits, personal loans and mortgage financing.