Chiba Bank (OTCMKTS:CHBAY) Hits New 52-Week High – Here’s Why

Shares of Chiba Bank Ltd. (OTCMKTS:CHBAY) hit a new 52-week high on Wednesday . The company traded as high as $87.8780 and last traded at $87.8780, with a volume of 195 shares. The stock had previously closed at $85.80.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Chiba Bank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has an average rating of “Strong Buy”.

Chiba Bank Stock Up 2.4%

The stock’s 50 day moving average is $78.49 and its 200 day moving average is $69.24. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $13.63 billion, a PE ratio of 18.62 and a beta of 0.09.

Chiba Bank (OTCMKTS:CHBAY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.24. Chiba Bank had a return on equity of 8.21% and a net margin of 20.96%.The company had revenue of $420.93 million for the quarter, compared to analysts’ expectations of $392.86 million. On average, sell-side analysts anticipate that Chiba Bank Ltd. will post 5.51 EPS for the current fiscal year.

Chiba Bank Company Profile

Chiba Bank, Ltd. (OTCMKTS: CHBAY) is a regional commercial bank headquartered in Chiba City, Japan. Established in 1943, the bank offers a broad range of banking and financial services to individual, corporate and public sector clients. As one of the largest financial institutions in Chiba Prefecture, Chiba Bank plays a central role in supporting local economic activity and community development.

The bank’s core business activities include deposit-taking, lending, and trust services. Chiba Bank provides retail customers with savings accounts, fixed-term deposits, personal loans and mortgage financing.