Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Sets New 52-Week High – Still a Buy?

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY)’s stock price reached a new 52-week high on Thursday. The stock traded as high as $20.00 and last traded at $19.89, with a volume of 5,208 shares trading hands. The stock had previously closed at $19.44.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Industrial & Commercial Bank of China Ltd. to a “hold” rating in a report on Monday, October 26th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Industrial & Commercial Bank of China Ltd. Price Performance

The company has a market capitalization of $363.18 billion, a price-to-earnings ratio of 6.86 and a beta of 0.09. The company’s 50 day simple moving average is $19.27 and its 200-day simple moving average is $17.79. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last announced its earnings results on Friday, October 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.02. The firm had revenue of $33.20 billion for the quarter, compared to analyst estimates of $32.99 billion. Industrial & Commercial Bank of China Ltd. had a net margin of 24.67% and a return on equity of 8.75%. On average, equities research analysts predict that Industrial & Commercial Bank of China Ltd. will post 3.22 earnings per share for the current fiscal year.

About Industrial & Commercial Bank of China Ltd.

Industrial & Commercial Bank of China Limited (OTCMKTS: IDCBY), commonly known as ICBC, is a China-based commercial bank headquartered in Beijing. Established in 1984, the bank provides financial services to corporations, government entities, financial institutions, small businesses and individual customers.

ICBC’s business includes corporate and personal deposits and lending, payment and settlement services, bank cards, trade finance, foreign-exchange services and wealth management.