Bank of Communications (OTCMKTS:BCMXY) Hits New 12-Month High – What’s Next?

Bank of Communications Co. (OTCMKTS:BCMXY)’s share price hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $27.91 and last traded at $27.91, with a volume of 191 shares trading hands. The stock had previously closed at $25.40.

Bank of Communications Stock Up 14.5%

The stock has a market cap of $83.83 billion, a P/E ratio of 7.27 and a beta of -0.02. The firm’s fifty day moving average price is $25.43 and its 200-day moving average price is $22.77.

Bank of Communications (OTCMKTS:BCMXY) last released its quarterly earnings results on Friday, October 30th. The bank reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.07. Bank of Communications had a return on equity of 8.44% and a net margin of 19.61%. The firm had revenue of $10.65 billion for the quarter, compared to analysts’ expectations of $10.65 billion. Sell-side analysts predict that Bank of Communications Co. will post 4.22 earnings per share for the current year.

Bank of Communications Company Profile

Bank of Communications Co, Ltd. is a Chinese commercial bank headquartered in Shanghai. Founded in 1908 and re-established in 1987, it is one of China’s longstanding banking institutions.

The bank serves individual, business and institutional customers through services that include deposits, loans, payment and settlement services, bank cards, wealth management, trade finance and corporate banking. Its broader financial activities also include investment banking, asset management and leasing through affiliated businesses.

Bank of Communications operates throughout mainland China and maintains an international presence through overseas branches and other operations, including in Hong Kong.