China CITIC Bank (OTCMKTS:CHCJY) Shares Up 6% – What’s Next?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) shares rose 6% on Wednesday . The company traded as high as $21.19 and last traded at $21.19. Approximately 1,902 shares changed hands during trading, a decline of 48% from the average session volume of 3,647 shares. The stock had previously closed at $20.00.

Wall Street Analyst Weigh In

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

China CITIC Bank Trading Up 6.0%

The stock’s 50 day simple moving average is $18.87 and its two-hundred day simple moving average is $19.42. The stock has a market capitalization of $51.85 billion, a PE ratio of 6.14 and a beta of 0.31. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.82.

China CITIC Bank (OTCMKTS:CHCJY) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $0.79 EPS for the quarter. China CITIC Bank had a net margin of 20.81% and a return on equity of 8.54%. The company had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $8.27 billion. On average, sell-side 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 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.