China CITIC Bank (OTCMKTS:CHCJY) Stock Price Up 4.2% – Here’s What Happened

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY)’s stock price rose 4.2% during trading on Wednesday. The stock traded as high as $21.42 and last traded at $21.42. 396 shares were traded during trading, a decline of 89% from the average daily volume of 3,447 shares. The stock had previously closed at $20.55.

Wall Street Analysts Forecast Growth

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

China CITIC Bank Price Performance

The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50-day moving average is $19.86 and its 200 day moving average is $19.64. The firm has a market capitalization of $52.41 billion, a PE ratio of 6.21 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. The firm had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $8.27 billion. China CITIC Bank had a net margin of 20.81% and a return on equity of 8.35%. As a group, research analysts forecast that China CITIC Bank Corporation Limited will post 3.88 earnings per share for the current fiscal 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.