China CITIC Bank (OTCMKTS:CHCJY) Stock Price Down 15.9% – Time to Sell?

Shares of China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) dropped 15.9% on Friday . The company traded as low as $16.00 and last traded at $16.32. 1,362 shares were traded during mid-day trading, a decline of 71% from the average session volume of 4,698 shares. The stock had previously closed at $19.40.

Wall Street Analysts Forecast Growth

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

China CITIC Bank Price Performance

The stock has a market cap of $39.93 billion, a PE ratio of 4.83 and a beta of 0.32. The business has a fifty day simple moving average of $19.02 and a two-hundred day simple moving average of $19.13. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.27.

China CITIC Bank (OTCMKTS:CHCJY) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.04 earnings per share for the quarter. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.86 billion. China CITIC Bank had a return on equity of 8.44% and a net margin of 20.39%. Research analysts forecast that China CITIC Bank Corporation Limited will post 3.88 earnings per share for the current 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.