China CITIC Bank (OTCMKTS:CHCJY) Posts Earnings Results

China CITIC Bank (OTCMKTS:CHCJY) posted its earnings results on Wednesday. The company reported $0.79 earnings per share for the quarter, Zacks reports. China CITIC Bank had a net margin of 20.81% and a return on equity of 8.54%. The business had revenue of $8.19 billion for the quarter, compared to analyst estimates of $8.27 billion.

China CITIC Bank Stock Performance

Shares of OTCMKTS:CHCJY opened at $19.60 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.27. The company’s 50-day moving average price is $18.66 and its 200 day moving average price is $19.36. The company has a market cap of $47.96 billion, a PE ratio of 5.68 and a beta of 0.31. China CITIC Bank has a fifty-two week low of $15.92 and a fifty-two week high of $22.30.

Wall Street Analyst Weigh In

Separately, Zacks Research raised China CITIC Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Strong Buy”.

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.