Chiba Bank (OTCMKTS:CHBAY) Sees Strong Trading Volume – Still a Buy?

Shares of Chiba Bank Ltd. (OTCMKTS:CHBAY) saw unusually-strong trading volume on Monday . Approximately 2,995 shares were traded during mid-day trading, an increase of 69% from the previous session’s volume of 1,773 shares.The stock last traded at $88.01 and had previously closed at $87.8780.

Analysts Set New Price Targets

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

Chiba Bank Stock Performance

The stock has a market capitalization of $13.49 billion, a price-to-earnings ratio of 18.42 and a beta of 0.09. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50-day moving average of $79.43 and a 200 day moving average of $69.94.

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

About Chiba Bank

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.