Bank of China (OTCMKTS:BACHY) Reaches New 52-Week High – Still a Buy?

Bank of China Ltd. (OTCMKTS:BACHY)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $17.86 and last traded at $17.5675, with a volume of 11545 shares changing hands. The stock had previously closed at $17.37.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Bank of China to a “hold” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Bank of China has an average rating of “Hold”.

Bank of China Stock Performance

The company has a market capitalization of $226.97 billion, a P/E ratio of 6.85 and a beta of 0.07. The firm’s fifty day moving average is $16.54 and its 200 day moving average is $15.74.

About Bank of China

Bank of China (OTCMKTS: BACHY) is a major state-owned commercial bank headquartered in Beijing that provides a broad range of banking and financial services to corporate, institutional and retail clients. Founded in 1912, the bank has grown into one of China’s largest and longest-established banking institutions and is commonly grouped with the nation’s “Big Four” banks. Its core activities include deposit-taking, corporate and retail lending, trade finance, foreign exchange and treasury services, as well as cash management and payment services for domestic and cross-border clients.

In addition to traditional commercial banking, Bank of China offers investment banking and capital markets services, structured finance, asset management and wealth management solutions.