China Construction Bank (OTCMKTS:CICHY) Sets New 52-Week High – Time to Buy?

China Construction Bank Corp. (OTCMKTS:CICHY) shares reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $26.50 and last traded at $26.4460, with a volume of 203,029 shares trading hands. The stock had previously closed at $25.54.

China Construction Bank Trading Up 1.2%

The company has a 50 day moving average price of $24.94 and a 200 day moving average price of $22.40. The company has a market capitalization of $351.20 billion, a P/E ratio of 6.94 and a beta of 0.12.

China Construction Bank (OTCMKTS:CICHY) last posted its earnings results on Friday, October 30th. The company reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). China Construction Bank had a return on equity of 9.82% and a net margin of 28.25%. The business had revenue of $29.63 billion for the quarter, compared to analyst estimates of $29.18 billion. As a group, sell-side analysts forecast that China Construction Bank Corp. will post 4.09 EPS for the current fiscal year.

About China Construction Bank

China Construction Bank Corporation is a major commercial bank headquartered in Beijing. Established in 1954 as the People’s Construction Bank of China, it was renamed China Construction Bank in 1996 and reorganized as a joint-stock commercial bank in 2004. The bank has a longstanding role in financing construction and infrastructure, alongside its broader banking activities.

CCB serves individuals, businesses and government-related organizations. Its services include deposits, loans, payments and settlement, credit cards, wealth management, investment banking, treasury services and asset management.

The bank operates throughout mainland China and serves customers internationally through overseas branches, subsidiaries and other financial institutions.