Chiba Bank Ltd. (OTCMKTS:CHBAY) Sees Significant Growth in Short Interest

Chiba Bank Ltd. (OTCMKTS:CHBAY) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 13 shares. Based on an average daily volume of 46 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the shares of the company are sold short.

Chiba Bank Price Performance

Shares of OTCMKTS CHBAY opened at $90.24 on Wednesday. The company has a market capitalization of $14.00 billion, a PE ratio of 19.12 and a beta of 0.15. The firm has a fifty day simple moving average of $87.52 and a 200 day simple moving average of $77.58. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.26. Chiba Bank has a twelve month low of $62.28 and a twelve month high of $90.24.

Chiba Bank (OTCMKTS:CHBAY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.24. Chiba Bank had a return on equity of 8.25% and a net margin of 20.96%. The firm had revenue of $420.93 million for the quarter, compared to analysts’ expectations of $392.86 million. On average, sell-side analysts forecast that Chiba Bank will post 5.51 EPS for the current year.

Analysts Set New Price Targets

Separately, Zacks Research cut Chiba Bank from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, Chiba Bank presently has an average rating of “Hold”.

Chiba Bank Company Profile

Chiba Bank, Ltd. is a Japanese regional financial institution headquartered in Chiba City, Chiba Prefecture. Established in 1943, the bank provides banking and financial services to individuals, businesses, local governments and other organizations.

Its primary activities include accepting deposits, extending loans, handling domestic and international payments, and providing foreign-exchange services. Chiba Bank also offers investment trusts, insurance products, asset-management services and other financial products through its branch network and affiliated companies.

The bank’s core operating area is Chiba Prefecture, with additional operations and business relationships in neighboring parts of the greater Tokyo metropolitan area and other locations.