Bank of Communications Co. (OTCMKTS:BCMXY) Sees Significant Drop in Short Interest

Bank of Communications Co. (OTCMKTS:BCMXY) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 584 shares, a drop of 67.2% from the June 15th total of 1,781 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 1,148 shares, the short-interest ratio is currently 0.5 days.

Bank of Communications Stock Performance

Shares of OTCMKTS:BCMXY opened at $20.60 on Monday. The company has a market cap of $61.19 billion, a PE ratio of 5.63 and a beta of -0.06. The company’s 50-day moving average price is $22.41 and its 200 day moving average price is $21.86. Bank of Communications has a fifty-two week low of $19.89 and a fifty-two week high of $25.80. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.70.

Bank of Communications (OTCMKTS:BCMXY) last posted its earnings results on Wednesday, April 29th. The bank reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.04). Bank of Communications had a net margin of 19.03% and a return on equity of 7.66%. The firm had revenue of $10.02 billion for the quarter, compared to analyst estimates of $10.02 billion. Sell-side analysts anticipate that Bank of Communications will post 4.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Bank of Communications to a “hold” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.