China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Down – Time to Sell?

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $21.80, but opened at $20.55. China CITIC Bank shares last traded at $20.55, with a volume of 209 shares traded.

Analysts Set New Price Targets

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

China CITIC Bank Trading Down 5.7%

The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $50.28 billion, a price-to-earnings ratio of 5.96 and a beta of 0.31. The business has a 50 day simple moving average of $19.37 and a 200-day simple moving average of $19.53.

China CITIC Bank (OTCMKTS:CHCJY) last posted its quarterly earnings data 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 8.54%. The company had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $8.27 billion. On average, equities analysts predict that China CITIC Bank Corporation Limited will post 3.88 earnings per share 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.