Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Sets New 52-Week High – Still a Buy?

Shares of Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) hit a new 52-week high on Tuesday . The company traded as high as $18.75 and last traded at $18.0084, with a volume of 60143 shares changing hands. The stock had previously closed at $18.06.

Analyst Ratings Changes

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, Industrial & Commercial Bank of China Ltd. currently has an average rating of “Hold”.

Industrial & Commercial Bank of China Ltd. Price Performance

The stock has a market cap of $320.92 billion, a price-to-earnings ratio of 6.34 and a beta of 0.11. The stock has a fifty day simple moving average of $17.13 and a 200-day simple moving average of $16.45. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.75.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) last released its earnings results on Wednesday, April 29th. The company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04). The business had revenue of $32.05 billion during the quarter, compared to analyst estimates 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%. As a group, equities research analysts expect that Industrial & Commercial Bank of China Ltd. will post 3.01 EPS 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.