Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Releases Quarterly Earnings Results

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) announced its quarterly earnings results on Wednesday. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.04), Zacks reports. Industrial & Commercial Bank of China Ltd. had a net margin of 24.61% and a return on equity of 8.89%.

Industrial & Commercial Bank of China Ltd. Stock Performance

OTCMKTS:IDCBY traded up $0.04 during mid-day trading on Wednesday, hitting $18.34. The stock had a trading volume of 35,245 shares, compared to its average volume of 51,905. The stock has a market capitalization of $326.82 billion, a price-to-earnings ratio of 6.60 and a beta of 0.07. The company has a 50 day simple moving average of $17.06 and a 200-day simple moving average of $16.40. Industrial & Commercial Bank of China Ltd. has a 52 week low of $13.27 and a 52 week high of $18.75. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.75.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Industrial & Commercial Bank of China Ltd. to a “hold” rating in a research note on Thursday, April 23rd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Industrial & Commercial Bank of China Ltd. Company Profile

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.