China CITIC Bank (OTCMKTS:CHCJY) Upgraded at Zacks Research

Zacks Research upgraded shares of China CITIC Bank (OTCMKTS:CHCJY) from a hold rating to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

China CITIC Bank Stock Performance

Shares of CHCJY opened at $16.32 on Wednesday. China CITIC Bank has a 12 month low of $15.92 and a 12 month high of $22.30. The firm has a fifty day simple moving average of $18.93 and a 200 day simple moving average of $19.11. The stock has a market capitalization of $39.93 billion, a price-to-earnings ratio of 4.83 and a beta of 0.32. 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 earnings results on Tuesday, May 5th. The company reported $1.04 earnings per share for the quarter. China CITIC Bank had a net margin of 20.39% and a return on equity of 8.44%. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.86 billion. Research analysts forecast that China CITIC Bank will post 3.88 EPS for the current fiscal year.

China CITIC Bank Company Profile

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.