China Minsheng (OTCMKTS:CMAKY) Stock Falls 8% – Here’s Why

China Minsheng (OTCMKTS:CMAKY)’s stock price fell 8% during mid-day trading on Monday. The stock traded as low as $4.21 and last traded at $4.2759. 2,228 shares were traded during trading, a decline of 6% from the average daily volume of 2,382 shares. The stock had previously closed at $4.65.

Analysts Set New Price Targets

Separately, Zacks Research downgraded China Minsheng from a “strong-buy” rating to a “hold” rating in a report on Friday, September 11th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

China Minsheng Price Performance

The stock’s fifty day simple moving average is $4.48 and its 200-day simple moving average is $4.46. The firm has a market cap of $18.48 billion, a PE ratio of 4.96 and a beta of 0.29.

China Minsheng (OTCMKTS:CMAKY) last announced its quarterly earnings data on Friday, August 28th. The company reported $0.21 earnings per share for the quarter. China Minsheng had a net margin of 10.72% and a return on equity of 3.89%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.23 billion. Analysts expect that China Minsheng will post 1 earnings per share for the current year.

China Minsheng Company Profile

China Minsheng Banking Corp., Ltd. is a Chinese commercial bank headquartered in Beijing. Established in 1996, it was founded as one of China’s first national joint-stock commercial banks promoted primarily by private-sector enterprises. The bank serves corporate, institutional and individual customers through a nationwide banking network and digital channels.

Its principal activities include corporate lending, deposit-taking, trade finance, transaction banking, investment banking, wealth management, private banking and retail financial services.