Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Stock Rating Upgraded by Zacks Research

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Industrial & Commercial Bank of China Ltd. Stock Performance

Shares of IDCBY opened at $18.44 on Thursday. The company has a 50-day simple moving average of $16.98 and a 200-day simple moving average of $16.31. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $328.61 billion, a PE ratio of 6.63 and a beta of 0.07. Industrial & Commercial Bank of China Ltd. has a 52-week low of $13.24 and a 52-week high of $18.75.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last announced its quarterly earnings results on Friday, March 27th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. The business had revenue of $27.56 billion during the quarter, compared to the consensus estimate of $26.53 billion. Industrial & Commercial Bank of China Ltd. had a net margin of 24.61% and a return on equity of 8.89%. Equities research analysts predict that Industrial & Commercial Bank of China Ltd. will post 3.01 earnings per share for the current fiscal year.

Industrial & Commercial Bank of China Ltd. Company Profile

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.