Chiba Bank (OTCMKTS:CHBAY) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Shares experienced an unusual volume surge — 8,048 shares traded, a 1,142% increase from the prior session, while the stock ticked up about 0.2% to $67.60.
• Chiba Bank reported stronger-than-expected quarterly results, with $1.14 EPS vs. $1.07 expected and revenue of $721.38M versus a consensus of $358.53M.
• The stock is trading well above its moving averages (50-day $55.39, 200-day $52.35) and shows conservative fundamentals: market cap $10.43B, debt-to-equity 0.06, P/E 16.01, and beta 0.14.

Shares of Chiba Bank Ltd. (OTCMKTS:CHBAY - Get Free Report) saw an uptick in trading volume on Wednesday . 8,048 shares traded hands during trading, an increase of 1,142% from the previous session's volume of 648 shares.The stock last traded at $67.5960 and had previously closed at $67.10.

Chiba Bank Trading Up 0.2%

The firm's 50 day moving average price is $55.39 and its 200-day moving average price is $52.35. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $10.43 billion, a P/E ratio of 16.01 and a beta of 0.14.

Chiba Bank (OTCMKTS:CHBAY - Get Free Report) last announced its quarterly earnings results on Monday, February 2nd. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.07. Chiba Bank had a net margin of 20.92% and a return on equity of 7.53%. The company had revenue of $721.38 million during the quarter, compared to the consensus estimate of $358.53 million.

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.

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