Zacks Research Upgrades Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) to “Strong-Buy”

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Industrial & Commercial Bank of China Ltd. Price Performance

OTCMKTS:IDCBY opened at $17.42 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.75. Industrial & Commercial Bank of China Ltd. has a 52 week low of $13.92 and a 52 week high of $18.75. The stock’s 50-day moving average price is $17.36 and its 200-day moving average price is $16.95. The stock has a market capitalization of $310.43 billion, a PE ratio of 6.13 and a beta of 0.11.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04). The business had revenue of $32.05 billion during the quarter, compared to analyst estimates of $30.88 billion. Industrial & Commercial Bank of China Ltd. had a return on equity of 8.95% and a net margin of 24.78%. As a group, equities analysts expect that Industrial & Commercial Bank of China Ltd. will post 3.15 EPS for the current fiscal year.

Industrial & Commercial Bank of China Ltd. Company Profile

Industrial & Commercial Bank of China Ltd. (ICBC) is a state-owned commercial bank headquartered in Beijing. Founded in 1984, ICBC has grown into one of the world’s largest banking institutions by total assets, operating a diversified financial services business that serves corporate, institutional and retail clients. The bank provides deposit-taking and lending, trade and transaction banking, treasury and markets services, as well as a range of payment and settlement solutions.

ICBC’s product and service offerings span corporate banking, retail banking, and investment banking, including corporate loans, supply‑chain and trade finance, cash management, credit and debit cards, mortgages and consumer finance, wealth-management products, custody and asset-management services.