China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Up – Still a 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 $17.60, but opened at $19.9528. China CITIC Bank shares last traded at $19.9528, with a volume of 747 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of China CITIC Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Strong Buy”.

China CITIC Bank Price Performance

The stock has a market cap of $49.49 billion, a P/E ratio of 5.98 and a beta of 0.32. The firm’s fifty day moving average price is $18.70 and its 200-day moving average price is $19.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.27.

China CITIC Bank (OTCMKTS:CHCJY) last posted its earnings results on Tuesday, May 5th. The company reported $1.04 earnings per share for the quarter. China CITIC Bank had a net margin of 20.39% and a return on equity of 8.44%. The company had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.86 billion. Analysts forecast that China CITIC Bank Corporation Limited will post 3.88 earnings per share for the current year.

About China CITIC Bank

China CITIC Bank Co, Ltd., a subsidiary of CITIC Group, is a leading Chinese commercial bank headquartered in Beijing. Established in the late 1980s, the bank was among the first national joint-stock commercial banks approved by the Chinese government. It is quoted on the U.S. OTC Market under the symbol CHCJY.

The bank offers a wide range of financial services, including corporate and institutional banking, retail banking, treasury and financial markets services. Corporate clients can access lending solutions, trade finance, cash management and project financing, while retail customers can choose from deposit accounts, personal loans, credit cards, wealth management and digital banking platforms.