Chiba Bank (OTCMKTS:CHBAY) Shares Gap Up – What’s Next?

Shares of Chiba Bank Ltd. (OTCMKTS:CHBAY) gapped up before the market opened on Friday . The stock had previously closed at $82.32, but opened at $87.8105. Chiba Bank shares last traded at $87.8105, with a volume of 134 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Chiba Bank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Chiba Bank currently has a consensus rating of “Strong Buy”.

Chiba Bank Stock Down 0.1%

The firm’s fifty day simple moving average is $79.12 and its 200-day simple moving average is $69.70. The company has a market cap of $13.62 billion, a PE ratio of 18.60 and a beta of 0.09. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.40.

Chiba Bank (OTCMKTS:CHBAY) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.24. Chiba Bank had a net margin of 20.96% and a return on equity of 8.21%. The business had revenue of $420.93 million during the quarter, compared to analysts’ expectations of $392.86 million. As a group, equities research analysts expect that Chiba Bank Ltd. will post 5.51 earnings per share for the current fiscal year.

Chiba Bank Company Profile

Chiba Bank, Ltd. (OTCMKTS: CHBAY) is a regional commercial bank headquartered in Chiba City, Japan. Established in 1943, the bank offers a broad range of banking and financial services to individual, corporate and public sector clients. As one of the largest financial institutions in Chiba Prefecture, Chiba Bank plays a central role in supporting local economic activity and community development.

The bank’s core business activities include deposit-taking, lending, and trust services. Chiba Bank provides retail customers with savings accounts, fixed-term deposits, personal loans and mortgage financing.