Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Posts Quarterly Earnings Results

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) issued its earnings results on Friday. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.02, Zacks reports. Industrial & Commercial Bank of China Ltd. had a return on equity of 8.75% and a net margin of 24.67%. 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. Trading Up 3.1%

Shares of IDCBY stock opened at $20.38 on Friday. The company’s fifty day simple moving average is $19.27 and its two-hundred day simple moving average is $17.79. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.86 and a quick ratio of 0.86. Industrial & Commercial Bank of China Ltd. has a 1 year low of $15.05 and a 1 year high of $20.77. The stock has a market capitalization of $363.18 billion, a price-to-earnings ratio of 6.75 and a beta of 0.09.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Industrial & Commercial Bank of China Ltd. to a “hold” rating in a research note on Monday, October 26th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, Industrial & Commercial Bank of China Ltd. has an average rating of “Hold”.

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.