Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Sets New 52-Week High – Still a Buy?

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.75 and last traded at $18.0084, with a volume of 60143 shares changing hands. The stock had previously closed at $18.06.

Analyst Ratings Changes

Separately, Zacks Research raised Industrial & Commercial Bank of China Ltd. to a “hold” rating in a report on Thursday, April 23rd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Industrial & Commercial Bank of China Ltd. Price Performance

The company has a market cap of $320.92 billion, a price-to-earnings ratio of 6.34 and a beta of 0.11. The company has a fifty day moving average price of $17.13 and a two-hundred day moving average price of $16.45. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.75.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.04). Industrial & Commercial Bank of China Ltd. had a return on equity of 8.95% and a net margin of 24.78%.The firm had revenue of $32.05 billion for the quarter, compared to analyst estimates of $30.88 billion. As a group, equities research analysts anticipate that Industrial & Commercial Bank of China Ltd. will post 3.01 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.