Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Shares Gap Up – Still a Buy?

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY)’s stock price gapped up prior to trading on Monday. The stock had previously closed at $18.44, but opened at $19.18. Industrial & Commercial Bank of China Ltd. shares last traded at $18.78, with a volume of 4,638 shares trading hands.

Analyst Ratings Changes

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

Industrial & Commercial Bank of China Ltd. Price Performance

The company has a market capitalization of $336.98 billion, a price-to-earnings ratio of 6.57 and a beta of 0.09. The business has a 50 day moving average price of $19.20 and a 200-day moving average price of $18.25. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.86.

Industrial & Commercial Bank of China Ltd. Company Profile

Industrial & Commercial Bank of China Limited (OTCMKTS: IDCBY), commonly known as ICBC, is a China-based commercial bank headquartered in Beijing. Established in 1984, the bank provides financial services to corporations, government entities, financial institutions, small businesses and individual customers.

ICBC’s business includes corporate and personal deposits and lending, payment and settlement services, bank cards, trade finance, foreign-exchange services and wealth management.