Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Upgraded at Zacks Research

Zacks Research upgraded shares of Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) to a hold rating in a report released on Thursday,Zacks.com reports.

Industrial & Commercial Bank of China Ltd. Stock Performance

IDCBY stock opened at $18.44 on Thursday. The stock has a market capitalization of $328.61 billion, a PE ratio of 6.63 and a beta of 0.07. Industrial & Commercial Bank of China Ltd. has a 12-month low of $13.24 and a 12-month high of $18.75. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.75. The stock’s 50 day simple moving average is $16.98 and its 200 day simple moving average is $16.33.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last released its quarterly earnings results on Friday, March 27th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.01. The firm had revenue of $27.56 billion for the quarter, compared to analysts’ expectations of $26.53 billion. Industrial & Commercial Bank of China Ltd. had a return on equity of 8.89% and a net margin of 24.61%. As a group, research analysts forecast that Industrial & Commercial Bank of China Ltd. will post 3.01 earnings per share for the current fiscal year.

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.