Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Hits New 12-Month High – Here’s What Happened

Shares of Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $18.75 and last traded at $18.75, with a volume of 291 shares. The stock had previously closed at $18.30.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Industrial & Commercial Bank of China Ltd. from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Strong Buy”.

Industrial & Commercial Bank of China Ltd. Price Performance

The stock has a market cap of $335.56 billion, a PE ratio of 6.63 and a beta of 0.11. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50 day moving average price is $17.39 and its two-hundred day moving average price is $17.07.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.04). The business had revenue of $32.05 billion during the quarter, compared to the consensus estimate of $30.88 billion. Industrial & Commercial Bank of China Ltd. had a net margin of 24.78% and a return on equity of 8.79%. On average, research analysts expect that Industrial & Commercial Bank of China Ltd. will post 3.15 earnings per share for the current 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.