China CITIC Bank (OTCMKTS:CHCJY) Stock Price Down 5.8% – Here’s What Happened

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY)’s share price was down 5.8% during trading on Tuesday . The company traded as low as $19.34 and last traded at $19.34. 524 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 4,218 shares. The stock had previously closed at $20.52.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded 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, According to MarketBeat, China CITIC Bank currently has a consensus rating of “Strong Buy”.

China CITIC Bank Price Performance

The firm’s 50 day moving average price is $18.62 and its two-hundred day moving average price is $19.24. The company has a market capitalization of $47.32 billion, a price-to-earnings ratio of 5.72 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 1.27.

China CITIC Bank (OTCMKTS:CHCJY) last issued its earnings results on Tuesday, May 5th. The company reported $1.04 EPS for the quarter. China CITIC Bank had a return on equity of 8.44% and a net margin of 20.39%.The company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.86 billion. Sell-side 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 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.