China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Up – Still a Buy?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) gapped up before the market opened on Wednesday. The stock had previously closed at $19.45, but opened at $21.33. China CITIC Bank shares last traded at $21.33, with a volume of 293 shares.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut shares of China CITIC Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. One analyst has rated the stock with a Hold rating. According to MarketBeat, China CITIC Bank presently has a consensus rating of “Hold”.

China CITIC Bank Stock Performance

The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average price of $20.46 and a two-hundred day moving average price of $19.86. The firm has a market cap of $52.19 billion, a PE ratio of 6.18 and a beta of 0.31.

China CITIC Bank (OTCMKTS:CHCJY) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $0.79 EPS for the quarter. China CITIC Bank had a return on equity of 8.35% and a net margin of 20.81%. The firm had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Research analysts forecast that China CITIC Bank Corporation Limited will post 3.88 EPS for the current fiscal year.

China CITIC Bank Company Profile

China CITIC Bank Corporation Limited is a commercial bank headquartered in Beijing and a member of CITIC Group, a major Chinese financial and industrial conglomerate. Established in 1987, the bank provides banking and financial services to corporate, institutional and individual customers in China and selected international markets.

The bank’s corporate banking activities include deposits, loans, trade finance, transaction banking, cash management and settlement services. It also provides financing and advisory services to businesses, government-related entities and financial institutions, with coverage across sectors such as manufacturing, infrastructure, energy and technology.

For individual customers, China CITIC Bank offers deposits, personal lending, credit cards, wealth management, payments and other retail banking products.