Short Interest in Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Drops By 47.7%

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 106,711 shares, a drop of 47.7% from the April 15th total of 204,111 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 82,203 shares, the days-to-cover ratio is currently 1.3 days.

Industrial & Commercial Bank of China Ltd. Stock Down 2.3%

OTCMKTS IDCBY traded down $0.41 during midday trading on Friday, hitting $17.48. 75,256 shares of the company traded hands, compared to its average volume of 50,781. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $311.50 billion, a PE ratio of 6.15 and a beta of 0.11. The company’s 50-day simple moving average is $17.38 and its 200-day simple moving average is $16.60. Industrial & Commercial Bank of China Ltd. has a 52 week low of $13.79 and a 52 week high of $18.75.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last announced its earnings results on Wednesday, April 29th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.04). The company had revenue of $32.05 billion for the quarter, compared to the consensus estimate of $30.88 billion. Industrial & Commercial Bank of China Ltd. had a net margin of 24.78% and a return on equity of 8.95%. As a group, equities research analysts forecast that Industrial & Commercial Bank of China Ltd. will post 3.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Industrial & Commercial Bank of China Ltd. to a “hold” rating in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

About Industrial & Commercial Bank of China Ltd.

Industrial & Commercial Bank of China Ltd. (ICBC) is a state-owned commercial bank headquartered in Beijing. Founded in 1984, ICBC has grown into one of the world’s largest banking institutions by total assets, operating a diversified financial services business that serves corporate, institutional and retail clients. The bank provides deposit-taking and lending, trade and transaction banking, treasury and markets services, as well as a range of payment and settlement solutions.

ICBC’s product and service offerings span corporate banking, retail banking, and investment banking, including corporate loans, supply?chain and trade finance, cash management, credit and debit cards, mortgages and consumer finance, wealth-management products, custody and asset-management services.