Bank of Communications (OTCMKTS:BCMXY) Shares Gap Up – Here’s What Happened

Bank of Communications Co. (OTCMKTS:BCMXY) gapped up prior to trading on Friday . The stock had previously closed at $20.71, but opened at $24.29. Bank of Communications shares last traded at $24.29, with a volume of 2,132 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Bank of Communications to a “hold” rating in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Bank of Communications Stock Performance

The company has a 50-day moving average of $21.48 and a 200 day moving average of $22.19. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $72.15 billion, a PE ratio of 6.64 and a beta of -0.13.

Bank of Communications (OTCMKTS:BCMXY) last posted its earnings results on Wednesday, April 29th. The bank reported $1.08 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.04). Bank of Communications had a return on equity of 7.66% and a net margin of 19.03%.The business had revenue of $10.02 billion for the quarter, compared to analysts’ expectations of $10.02 billion. Equities research analysts predict that Bank of Communications Co. will post 4.13 EPS for the current year.

Bank of Communications Company Profile

Bank of Communications Co, Ltd. (OTCMKTS: BCMXY) is a major Chinese commercial bank that provides a broad range of banking and financial services to individual, corporate and institutional clients. Founded in the early 20th century, the bank has grown into one of China’s large, systemically important banks and plays a significant role in supporting domestic economic activity, trade and finance. It combines traditional commercial banking functions with modern financial services across multiple customer segments.

The company’s core businesses include retail banking, corporate and investment banking, treasury and financial markets operations, and wealth and asset management.