Chiba Bank (OTCMKTS:CHBAY) Stock Dropped to Hold by Zacks Research

Zacks Research lowered shares of Chiba Bank (OTCMKTS:CHBAY) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks reports.

Chiba Bank Stock Performance

Shares of CHBAY stock opened at $90.24 on Tuesday. The company has a fifty day moving average price of $86.11 and a two-hundred day moving average price of $75.57. Chiba Bank has a one year low of $62.28 and a one year high of $90.24. The stock has a market cap of $14.00 billion, a P/E ratio of 19.12 and a beta of 0.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.93 and a quick ratio of 0.93.

Chiba Bank (OTCMKTS:CHBAY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.24. The company had revenue of $420.93 million for the quarter, compared to analyst estimates of $392.86 million. Chiba Bank had a net margin of 20.96% and a return on equity of 8.25%. As a group, equities analysts predict that Chiba Bank will post 5.51 EPS for the current year.

About Chiba Bank

Chiba Bank, Ltd. is a Japanese regional financial institution headquartered in Chiba City, Chiba Prefecture. Established in 1943, the bank provides banking and financial services to individuals, businesses, local governments and other organizations.

Its primary activities include accepting deposits, extending loans, handling domestic and international payments, and providing foreign-exchange services. Chiba Bank also offers investment trusts, insurance products, asset-management services and other financial products through its branch network and affiliated companies.

The bank’s core operating area is Chiba Prefecture, with additional operations and business relationships in neighboring parts of the greater Tokyo metropolitan area and other locations.