China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Up – Time to Buy?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $20.00, but opened at $20.90. China CITIC Bank shares last traded at $20.90, with a volume of 240 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of China CITIC Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, China CITIC Bank has an average rating of “Hold”.

China CITIC Bank Price Performance

The company has a market cap of $51.14 billion, a PE ratio of 6.06 and a beta of 0.31. The business has a 50 day moving average of $19.02 and a 200 day moving average of $19.45. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.82.

China CITIC Bank (OTCMKTS:CHCJY) last issued its quarterly earnings data on Wednesday, August 26th. The company reported $0.79 earnings per share (EPS) for the quarter. China CITIC Bank had a net margin of 20.81% and a return on equity of 8.54%. The business had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $8.27 billion. As a group, research analysts predict that China CITIC Bank Corporation Limited will post 3.88 EPS for the current year.

About China CITIC Bank

China CITIC Bank Corporation Limited is a commercial bank headquartered in Beijing and a subsidiary of China CITIC Group Corporation. Established in 1987, it serves corporate, institutional and individual customers through a broad range of banking and financial services.

The bank’s business includes corporate lending, trade finance, settlement and cash-management services, investment banking, financial-market operations and asset management. For retail customers, China CITIC Bank provides deposits, consumer and residential loans, credit cards, wealth-management products, payments and other personal banking services.

China CITIC Bank operates throughout mainland China through its branch and service network and also maintains an international presence, including operations serving customers in Hong Kong and other overseas markets.