China CITIC Bank (OTCMKTS:CHCJY) Stock Price Up 8.1% – What’s Next?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY)’s stock price shot up 8.1% during trading on Thursday . The stock traded as high as $20.60 and last traded at $20.60. Approximately 393 shares were traded during mid-day trading, a decline of 90% from the average session volume of 3,944 shares. The stock had previously closed at $19.05.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of China CITIC Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, China CITIC Bank currently has a consensus rating of “Strong Buy”.

China CITIC Bank Stock Performance

The stock has a market cap of $50.40 billion, a P/E ratio of 6.09 and a beta of 0.31. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.27. The stock has a 50 day simple moving average of $18.59 and a 200 day simple moving average of $19.27.

China CITIC Bank Company Profile

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.