Short Interest in Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Drops By 47.7%

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) was the recipient of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totaling 106,711 shares, a decrease of 47.7% from the April 15th total of 204,111 shares. Based on an average daily trading volume, of 82,203 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.0% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, Zacks Research upgraded Industrial & Commercial Bank of China Ltd. to a “hold” rating in a report on Thursday, April 23rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Industrial & Commercial Bank of China Ltd. currently has a consensus rating of “Hold”.

Industrial & Commercial Bank of China Ltd. Trading Down 2.3%

IDCBY traded down $0.41 during trading on Friday, hitting $17.48. 75,256 shares of the stock were exchanged, compared to its average volume of 50,781. The firm has a 50 day simple moving average of $17.38 and a 200 day simple moving average of $16.60. The firm has a market cap of $311.50 billion, a price-to-earnings ratio of 6.15 and a beta of 0.11. Industrial & Commercial Bank of China Ltd. has a 1 year low of $13.79 and a 1 year high of $18.75. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.87 and a current ratio of 0.87.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.04). The firm had revenue of $32.05 billion for the quarter, compared to analysts’ expectations of $30.88 billion. Industrial & Commercial Bank of China Ltd. had a return on equity of 8.95% and a net margin of 24.78%. As a group, equities analysts expect that Industrial & Commercial Bank of China Ltd. will post 3.01 EPS for the current year.

Industrial & Commercial Bank of China Ltd. Company Profile

Industrial & Commercial Bank of China Ltd. (ICBC) is a state-owned commercial bank headquartered in Beijing. Founded in 1984, ICBC has grown into one of the world’s largest banking institutions by total assets, operating a diversified financial services business that serves corporate, institutional and retail clients. The bank provides deposit-taking and lending, trade and transaction banking, treasury and markets services, as well as a range of payment and settlement solutions.

ICBC’s product and service offerings span corporate banking, retail banking, and investment banking, including corporate loans, supply‑chain and trade finance, cash management, credit and debit cards, mortgages and consumer finance, wealth-management products, custody and asset-management services.