China CITIC Bank (OTCMKTS:CHCJY) Shares Down 15.9% – Here’s Why

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) shares fell 15.9% during mid-day trading on Friday . The company traded as low as $16.00 and last traded at $16.32. 1,362 shares changed hands during mid-day trading, a decline of 71% from the average daily 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 report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Strong Buy”.

China CITIC Bank Price Performance

The stock’s 50-day moving average is $18.93 and its 200 day moving average is $19.11. The stock has a market capitalization of $39.93 billion, a PE ratio of 4.83 and a beta of 0.32. The company has a quick ratio of 0.82, a current 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 (EPS) for the quarter. The company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.86 billion. China CITIC Bank had a net margin of 20.39% and a return on equity of 8.44%. As a group, equities analysts predict 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.