Chiba Bank (OTCMKTS:CHBAY) Hits New 52-Week High – Here’s Why

Chiba Bank Ltd. (OTCMKTS:CHBAY)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $87.8780 and last traded at $87.8780, with a volume of 195 shares. The stock had previously closed at $85.80.

Analyst Ratings Changes

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

Chiba Bank Trading Up 2.4%

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The firm has a market cap of $13.63 billion, a PE ratio of 18.62 and a beta of 0.09. The company has a 50-day simple moving average of $78.49 and a 200 day simple moving average of $69.24.

Chiba Bank (OTCMKTS:CHBAY) last announced its earnings results on Tuesday, August 4th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.24. Chiba Bank had a return on equity of 8.21% and a net margin of 20.96%.The business had revenue of $420.93 million during the quarter, compared to the consensus estimate of $392.86 million. As a group, sell-side analysts forecast that Chiba Bank Ltd. will post 5.51 earnings per share for the current fiscal year.

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.