Short Interest in Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Declines By 47.7%

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) was the recipient of a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 106,711 shares, a drop of 47.7% from the April 15th total of 204,111 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 82,203 shares, the days-to-cover ratio is presently 1.3 days.

Industrial & Commercial Bank of China Ltd. Price Performance

Shares of Industrial & Commercial Bank of China Ltd. stock traded down $0.03 during trading on Monday, reaching $17.45. The company’s stock had a trading volume of 37,497 shares, compared to its average volume of 52,881. The stock has a 50-day moving average price of $17.38 and a two-hundred day moving average price of $16.61. 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. has a one year low of $13.79 and a one year high of $18.75. The stock has a market capitalization of $310.95 billion, a P/E ratio of 6.14 and a beta of 0.11.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04). Industrial & Commercial Bank of China Ltd. had a net margin of 24.78% and a return on equity of 8.95%. The business had revenue of $32.05 billion during the quarter, compared to the consensus estimate of $30.88 billion. As a group, sell-side analysts anticipate that Industrial & Commercial Bank of China Ltd. will post 3.01 EPS for the current fiscal year.

Analysts Set New Price Targets

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

About Industrial & Commercial Bank of China Ltd.

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.