China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Down – Time to Sell?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) shares gapped down before the market opened on Wednesday. The stock had previously closed at $21.1960, but opened at $19.45. China CITIC Bank shares last traded at $19.45, with a volume of 165 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut shares of China CITIC Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

China CITIC Bank Stock Performance

The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22. The stock has a 50 day simple moving average of $20.44 and a 200-day simple moving average of $19.91. The firm has a market cap of $47.59 billion, a P/E ratio of 5.64 and a beta of 0.31.

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. China CITIC Bank had a net margin of 20.81% and a return on equity of 8.35%. The firm had revenue of $8.19 billion during the quarter, compared to analyst estimates of $8.27 billion. On average, equities research analysts expect that China CITIC Bank Corporation Limited will post 3.88 EPS for the current fiscal year.

About China CITIC Bank

China CITIC Bank Corporation Limited is a commercial bank headquartered in Beijing, China, and a subsidiary of CITIC Group Corporation. Established in 1987 as China CITIC Industrial Bank, it was among the first commercial banks established in China under the country’s economic reforms. The bank serves corporate, institutional and individual customers through its domestic and international operations.

China CITIC Bank provides corporate banking services such as deposits, loans, trade finance, cash management and investment banking support.