China Minsheng (OTCMKTS:CMAKY) Shares Down 8% – Here’s Why

China Minsheng (OTCMKTS:CMAKY)’s stock price fell 8% during trading on Monday. The company traded as low as $4.21 and last traded at $4.2759. Approximately 2,228 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 2,382 shares. The stock had previously closed at $4.65.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered China Minsheng from a “strong-buy” rating to a “hold” rating in a report on Friday, September 11th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

China Minsheng Stock Down 1.9%

The firm has a market capitalization of $18.48 billion, a PE ratio of 4.96 and a beta of 0.29. The company’s 50-day simple moving average is $4.48 and its 200 day simple moving average is $4.46.

China Minsheng (OTCMKTS:CMAKY) last posted its quarterly earnings data on Friday, August 28th. The company reported $0.21 EPS for the quarter. China Minsheng had a net margin of 10.72% and a return on equity of 3.89%. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.23 billion. On average, sell-side analysts forecast that China Minsheng will post 1 earnings per share for the current fiscal year.

China Minsheng Company Profile

China Minsheng Banking Corp., Ltd. is a Chinese commercial bank headquartered in Beijing. Established in 1996, it was founded as one of China’s first national joint-stock commercial banks promoted primarily by private-sector enterprises. The bank serves corporate, institutional and individual customers through a nationwide banking network and digital channels.

Its principal activities include corporate lending, deposit-taking, trade finance, transaction banking, investment banking, wealth management, private banking and retail financial services.