Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Shares Gap Up – Should You Buy?

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $16.54, but opened at $17.27. Industrial & Commercial Bank of China Ltd. shares last traded at $17.28, with a volume of 1,776 shares traded.

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 investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Industrial & Commercial Bank of China Ltd. Stock Performance

The company has a market capitalization of $302.41 billion, a price-to-earnings ratio of 5.98 and a beta of 0.11. The stock has a 50 day simple moving average of $17.41 and a 200 day simple moving average of $16.92. The company has a quick ratio of 0.87, a current 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 results on Wednesday, April 29th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04). The company had revenue of $32.05 billion for the quarter, compared to analyst estimates of $30.88 billion. Industrial & Commercial Bank of China Ltd. had a return on equity of 8.95% and a net margin of 24.78%. As a group, analysts anticipate that Industrial & Commercial Bank of China Ltd. will post 3.01 earnings per share for the current fiscal year.

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.