Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Rating Increased to Hold at Zacks Research

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) was upgraded by analysts at Zacks Research to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Industrial & Commercial Bank of China Ltd. Stock Performance

OTCMKTS IDCBY opened at $18.44 on Thursday. 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 firm’s fifty day moving average price is $16.98 and its two-hundred day moving average price is $16.31. Industrial & Commercial Bank of China Ltd. has a 1 year low of $13.24 and a 1 year high of $18.75. The firm has a market capitalization of $328.61 billion, a P/E ratio of 6.63 and a beta of 0.07.

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

About Industrial & Commercial Bank of China Ltd.

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.