Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04), Zacks reports. Industrial & Commercial Bank of China Ltd. had a return on equity of 8.89% and a net margin of 24.61%.
Industrial & Commercial Bank of China Ltd. Stock Up 0.2%
Shares of OTCMKTS:IDCBY traded up $0.04 during trading on Wednesday, hitting $18.34. 31,227 shares of the company were exchanged, compared to its average volume of 51,886. The stock has a market capitalization of $326.82 billion, a P/E ratio of 6.60 and a beta of 0.07. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.87 and a quick ratio of 0.87. Industrial & Commercial Bank of China Ltd. has a 12-month low of $13.27 and a 12-month high of $18.75. The firm’s 50 day moving average price is $17.06 and its 200-day moving average price is $16.40.
Analyst Upgrades and Downgrades
Separately, Zacks Research upgraded shares of Industrial & Commercial Bank of China Ltd. to a “hold” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently 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.
Further Reading
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