Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Posts Earnings Results

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) released its quarterly earnings results on Wednesday. The company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04), Zacks reports. The company 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 8.95%.

Industrial & Commercial Bank of China Ltd. Stock Performance

Shares of Industrial & Commercial Bank of China Ltd. stock opened at $18.03 on Friday. Industrial & Commercial Bank of China Ltd. has a 1-year low of $13.27 and a 1-year high of $18.75. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.75. The business has a 50-day moving average price of $17.13 and a two-hundred day moving average price of $16.42. The company has a market cap of $321.29 billion, a P/E ratio of 6.35 and a beta of 0.07.

Analysts Set New Price Targets

Separately, Zacks Research raised Industrial & Commercial Bank of China Ltd. to a “hold” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Industrial & Commercial Bank of China Ltd. Company Profile

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.