China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Up – Should You Buy?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $19.45, but opened at $21.33. China CITIC Bank shares last traded at $21.33, with a volume of 293 shares.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered China CITIC Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, China CITIC Bank presently has a consensus rating of “Hold”.

China CITIC Bank Price Performance

The firm has a market cap of $52.19 billion, a PE ratio of 6.18 and a beta of 0.31. The stock has a 50 day simple moving average of $20.55 and a two-hundred day simple moving average of $19.86. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.82.

China CITIC Bank (OTCMKTS:CHCJY) last issued its earnings results on Wednesday, August 26th. The company reported $0.79 EPS for the quarter. China CITIC Bank had a return on equity of 8.35% and a net margin of 20.81%. The firm had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $8.27 billion. Sell-side analysts expect that China CITIC Bank Corporation Limited will post 3.88 earnings per share for the current year.

China CITIC Bank Company Profile

China CITIC Bank Corporation Limited is a commercial bank headquartered in Beijing and a member of CITIC Group, a major Chinese financial and industrial conglomerate. Established in 1987, the bank provides banking and financial services to corporate, institutional and individual customers in China and selected international markets.

The bank’s corporate banking activities include deposits, loans, trade finance, transaction banking, cash management and settlement services. It also provides financing and advisory services to businesses, government-related entities and financial institutions, with coverage across sectors such as manufacturing, infrastructure, energy and technology.

For individual customers, China CITIC Bank offers deposits, personal lending, credit cards, wealth management, payments and other retail banking products.