China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Up – Here’s Why

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) shares gapped up prior to trading on Monday . The stock had previously closed at $20.55, but opened at $21.71. China CITIC Bank shares last traded at $21.71, with a volume of 108 shares trading hands.

Analyst Ratings Changes

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

China CITIC Bank Stock Up 5.6%

The firm has a 50 day moving average of $19.51 and a two-hundred day moving average of $19.55. The stock has a market capitalization of $53.12 billion, a PE ratio of 6.29 and a beta of 0.31. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.27.

China CITIC Bank (OTCMKTS:CHCJY) last posted its earnings results on Wednesday, August 26th. The company reported $0.79 EPS for the quarter. The company had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $8.27 billion. China CITIC Bank had a return on equity of 8.54% and a net margin of 20.81%. Equities research analysts anticipate that China CITIC Bank Corporation Limited will post 3.88 earnings per share for the current year.

China CITIC Bank Company Profile

China CITIC Bank Corporation Limited is a commercial bank headquartered in Beijing and a subsidiary of China CITIC Group Corporation. Established in 1987, it serves corporate, institutional and individual customers through a broad range of banking and financial services.

The bank’s business includes corporate lending, trade finance, settlement and cash-management services, investment banking, financial-market operations and asset management. For retail customers, China CITIC Bank provides deposits, consumer and residential loans, credit cards, wealth-management products, payments and other personal banking services.

China CITIC Bank operates throughout mainland China through its branch and service network and also maintains an international presence, including operations serving customers in Hong Kong and other overseas markets.