China CITIC Bank (OTCMKTS:CHCJY) Stock Price Down 5.8% – Here’s What Happened

Shares of China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) fell 5.8% during mid-day trading on Tuesday . The stock traded as low as $19.34 and last traded at $19.34. 524 shares were traded during trading, a decline of 88% from the average session volume of 4,218 shares. The stock had previously closed at $20.52.

Analyst Ratings Changes

Separately, Zacks Research upgraded China CITIC Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company has an average rating of “Strong Buy”.

China CITIC Bank Trading Down 5.8%

The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.82 and a current ratio of 0.82. The business’s 50 day moving average price is $18.66 and its 200-day moving average price is $19.22. The firm has a market cap of $47.32 billion, a price-to-earnings ratio of 5.72 and a beta of 0.31.

China CITIC Bank (OTCMKTS:CHCJY) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.04 EPS for the quarter. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.86 billion. China CITIC Bank had a return on equity of 8.44% and a net margin of 20.39%. Equities analysts expect that China CITIC Bank Corporation Limited will post 3.88 EPS for the current year.

China CITIC Bank Company Profile

China CITIC Bank Co, Ltd., a subsidiary of CITIC Group, is a leading Chinese commercial bank headquartered in Beijing. Established in the late 1980s, the bank was among the first national joint-stock commercial banks approved by the Chinese government. It is quoted on the U.S. OTC Market under the symbol CHCJY.

The bank offers a wide range of financial services, including corporate and institutional banking, retail banking, treasury and financial markets services. Corporate clients can access lending solutions, trade finance, cash management and project financing, while retail customers can choose from deposit accounts, personal loans, credit cards, wealth management and digital banking platforms.