Short Interest in Chiba Bank Ltd. (OTCMKTS:CHBAY) Drops By 98.3%

Chiba Bank Ltd. (OTCMKTS:CHBAY) saw a significant decline in short interest in July. As of July 15th, there was short interest totaling 16 shares, a decline of 98.3% from the June 30th total of 917 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 41 shares, the days-to-cover ratio is presently 0.4 days.

Chiba Bank Price Performance

CHBAY stock opened at $75.71 on Friday. Chiba Bank has a 1 year low of $62.28 and a 1 year high of $78.67. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50 day moving average price is $73.61 and its 200 day moving average price is $64.84. The firm has a market cap of $11.74 billion, a P/E ratio of 17.05 and a beta of 0.09.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Chiba Bank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Strong Buy”.

About Chiba Bank

Chiba Bank, Ltd. (OTCMKTS: CHBAY) is a regional commercial bank headquartered in Chiba City, Japan. Established in 1943, the bank offers a broad range of banking and financial services to individual, corporate and public sector clients. As one of the largest financial institutions in Chiba Prefecture, Chiba Bank plays a central role in supporting local economic activity and community development.

The bank’s core business activities include deposit-taking, lending, and trust services. Chiba Bank provides retail customers with savings accounts, fixed-term deposits, personal loans and mortgage financing.