Chiba Bank (OTCMKTS:CHBAY) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Chiba Bank (OTCMKTS:CHBAY) to a hold rating in a report issued on Wednesday morning,Zacks.com reports.

Chiba Bank Price Performance

Shares of CHBAY opened at $68.88 on Wednesday. The firm has a 50 day simple moving average of $61.81 and a 200-day simple moving average of $55.39. Chiba Bank has a 1-year low of $62.28 and a 1-year high of $70.75. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 16.40 and a beta of 0.05.

Chiba Bank (OTCMKTS:CHBAY) last issued its quarterly earnings data on Monday, February 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.07. The firm had revenue of $721.38 million during the quarter, compared to the consensus estimate of $358.53 million. Chiba Bank had a return on equity of 7.53% and a net margin of 20.92%. On average, equities analysts expect that Chiba Bank will post 4.07 earnings per share for the current fiscal year.

Chiba Bank Company Profile

Chiba Bank, Ltd. (OTCMKTS: CHBAY) is a regional commercial bank headquartered in Chiba City, Japan. Established in 1943, the bank offers a broad range of banking and financial services to individual, corporate and public sector clients. As one of the largest financial institutions in Chiba Prefecture, Chiba Bank plays a central role in supporting local economic activity and community development.

The bank’s core business activities include deposit-taking, lending, and trust services. Chiba Bank provides retail customers with savings accounts, fixed-term deposits, personal loans and mortgage financing.