Zacks Research Upgrades China CITIC Bank (OTCMKTS:CHCJY) to Strong-Buy

China CITIC Bank (OTCMKTS:CHCJY) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

China CITIC Bank Trading Up 20.5%

OTCMKTS CHCJY opened at $19.40 on Wednesday. The company has a market capitalization of $47.47 billion, a price-to-earnings ratio of 5.74 and a beta of 0.32. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.82. China CITIC Bank has a 12 month low of $15.92 and a 12 month high of $22.30. The company’s fifty day moving average price is $19.02 and its two-hundred day moving average price is $19.13.

China CITIC Bank (OTCMKTS:CHCJY) last issued its earnings results on Tuesday, May 5th. The company reported $1.04 earnings per share (EPS) for the quarter. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.86 billion. China CITIC Bank had a net margin of 20.39% and a return on equity of 8.44%. As a group, research analysts predict that China CITIC Bank will post 3.88 earnings per share for the current fiscal year.

About China CITIC Bank

China CITIC Bank Co, Ltd., a subsidiary of CITIC Group, is a leading Chinese commercial bank headquartered in Beijing. Established in the late 1980s, the bank was among the first national joint-stock commercial banks approved by the Chinese government. It is quoted on the U.S. OTC Market under the symbol CHCJY.

The bank offers a wide range of financial services, including corporate and institutional banking, retail banking, treasury and financial markets services. Corporate clients can access lending solutions, trade finance, cash management and project financing, while retail customers can choose from deposit accounts, personal loans, credit cards, wealth management and digital banking platforms.