Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Shares Gap Up – Here’s Why

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) shares gapped up prior to trading on Monday. The stock had previously closed at $18.44, but opened at $19.18. Industrial & Commercial Bank of China Ltd. shares last traded at $18.78, with a volume of 4,638 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Industrial & Commercial Bank of China Ltd. from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating. According to MarketBeat, the stock has a consensus rating of “Strong Buy”.

Industrial & Commercial Bank of China Ltd. Stock Up 2.5%

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.81. The stock has a market cap of $336.98 billion, a P/E ratio of 6.57 and a beta of 0.09. The firm has a 50-day simple moving average of $19.20 and a two-hundred day simple moving average of $18.25.

Industrial & Commercial Bank of China Ltd. Company Profile

Industrial & Commercial Bank of China Limited (OTCMKTS: IDCBY), commonly known as ICBC, is a China-based commercial bank headquartered in Beijing. Established in 1984, the bank provides financial services to corporations, government entities, financial institutions, small businesses and individual customers.

ICBC’s business includes corporate and personal deposits and lending, payment and settlement services, bank cards, trade finance, foreign-exchange services and wealth management.