Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Hits New 12-Month High on Earnings Beat

Shares of Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) reached a new 52-week high during mid-day trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $17.12 and last traded at $17.12, with a volume of 4300 shares traded. The stock had previously closed at $16.88.

The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.01. Industrial & Commercial Bank of China Ltd. had a return on equity of 8.97% and a net margin of 24.61%.The business had revenue of $27.56 billion during the quarter, compared to analysts’ expectations of $26.53 billion.

Industrial & Commercial Bank of China Ltd. Price Performance

The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.80. The firm has a market cap of $304.73 billion, a PE ratio of 6.15 and a beta of 0.14. The firm’s fifty day simple moving average is $16.39 and its two-hundred day simple moving average is $15.92.

Industrial & Commercial Bank of China Ltd. Company Profile

Industrial & Commercial Bank of China Ltd. (ICBC) is a state-owned commercial bank headquartered in Beijing. Founded in 1984, ICBC has grown into one of the world’s largest banking institutions by total assets, operating a diversified financial services business that serves corporate, institutional and retail clients. The bank provides deposit-taking and lending, trade and transaction banking, treasury and markets services, as well as a range of payment and settlement solutions.

ICBC’s product and service offerings span corporate banking, retail banking, and investment banking, including corporate loans, supply‑chain and trade finance, cash management, credit and debit cards, mortgages and consumer finance, wealth-management products, custody and asset-management services.