Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Releases Earnings Results, Beats Estimates By $0.02 EPS

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) issued its quarterly earnings results on Friday. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.02, Zacks reports. Industrial & Commercial Bank of China Ltd. had a return on equity of 8.75% and a net margin of 24.67%.

Industrial & Commercial Bank of China Ltd. Stock Up 3.1%

Shares of IDCBY traded up $0.62 during mid-day trading on Friday, reaching $20.38. The company’s stock had a trading volume of 84,133 shares, compared to its average volume of 51,772. Industrial & Commercial Bank of China Ltd. has a 1 year low of $15.05 and a 1 year high of $20.77. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.81. The company has a market cap of $363.18 billion, a price-to-earnings ratio of 7.08 and a beta of 0.09. The business has a fifty day moving average of $19.25 and a 200 day moving average of $17.77.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Industrial & Commercial Bank of China Ltd. to a “hold” rating in a report on Monday. One research analyst has rated the stock with a Hold rating. According to MarketBeat, the stock currently has an average rating of “Hold”.

About Industrial & Commercial Bank of China Ltd.

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.