China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Down – What’s Next?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY)’s share price gapped down before the market opened on Wednesday. The stock had previously closed at $21.1960, but opened at $19.45. China CITIC Bank shares last traded at $19.45, with a volume of 165 shares changing hands.

Analyst Ratings Changes

Separately, Zacks Research lowered China CITIC Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

China CITIC Bank Stock Down 8.2%

The stock’s 50-day moving average is $20.43 and its 200-day moving average is $19.91. The stock has a market cap of $47.59 billion, a P/E ratio of 5.64 and a beta of 0.31. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22.

China CITIC Bank (OTCMKTS:CHCJY) last released its earnings results on Wednesday, August 26th. The company reported $0.79 EPS for the quarter. China CITIC Bank had a net margin of 20.81% and a return on equity of 8.35%. The firm had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $8.27 billion. As a group, research analysts anticipate that China CITIC Bank Corporation Limited will post 3.88 earnings per share for the current fiscal year.

About China CITIC Bank

China CITIC Bank Corporation Limited is a commercial bank headquartered in Beijing, China, and a subsidiary of CITIC Group Corporation. Established in 1987 as China CITIC Industrial Bank, it was among the first commercial banks established in China under the country’s economic reforms. The bank serves corporate, institutional and individual customers through its domestic and international operations.

China CITIC Bank provides corporate banking services such as deposits, loans, trade finance, cash management and investment banking support.