Chiba Bank (OTCMKTS:CHBAY) Downgraded by Zacks Research to Hold

Chiba Bank (OTCMKTS:CHBAY) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Chiba Bank Stock Performance

CHBAY opened at $90.24 on Tuesday. The company’s 50 day moving average is $86.11 and its 200-day moving average is $75.57. Chiba Bank has a 1-year low of $62.28 and a 1-year high of $90.24. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.26. The company has a market cap of $14.00 billion, a P/E ratio of 19.12 and a beta of 0.10.

Chiba Bank (OTCMKTS:CHBAY) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.24. The company had revenue of $420.93 million for the quarter, compared to analyst estimates of $392.86 million. Chiba Bank had a net margin of 20.96% and a return on equity of 8.25%. Equities research analysts predict that Chiba Bank will post 5.51 earnings per share for the current fiscal year.

About Chiba Bank

Chiba Bank, Ltd. is a Japanese regional financial institution headquartered in Chiba City, Chiba Prefecture. Established in 1943, the bank provides banking and financial services to individuals, businesses, local governments and other organizations.

Its primary activities include accepting deposits, extending loans, handling domestic and international payments, and providing foreign-exchange services. Chiba Bank also offers investment trusts, insurance products, asset-management services and other financial products through its branch network and affiliated companies.

The bank’s core operating area is Chiba Prefecture, with additional operations and business relationships in neighboring parts of the greater Tokyo metropolitan area and other locations.