China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Down – Here’s What Happened

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) shares gapped down prior to trading on Monday . The stock had previously closed at $20.80, but opened at $18.62. China CITIC Bank shares last traded at $18.62, with a volume of 506 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded China CITIC Bank to a “hold” rating in a research note on Thursday, April 23rd. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

China CITIC Bank Trading Down 9.2%

The business has a 50-day moving average price of $20.57 and a two-hundred day moving average price of $19.20. The stock has a market capitalization of $45.56 billion, a P/E ratio of 5.69 and a beta of 0.28. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.51.

China CITIC Bank (OTCMKTS:CHCJY) last released its earnings results on Tuesday, May 5th. The company reported $1.04 earnings per share for the quarter. The firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.86 billion. China CITIC Bank had a return on equity of 8.48% and a net margin of 20.20%. On average, analysts expect that China CITIC Bank Corporation Limited will post 3.61 EPS 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.