Chiba Bank (OTCMKTS:CHBAY) Shares Gap Up - Here's What Happened

Key Points

• Shares gapped up 5.5% — Chiba Bank opened at $67.5156 versus the prior close of $64.00 on Monday, with 1,104 shares trading early.
• Quarterly results beat expectations — EPS of $1.14 topped the $1.07 consensus and revenue was $721.38M versus $358.53M expected, with a net margin of 20.92% and ROE of 7.53%.
• Valuation and technicals — Market cap is $10.47B, PE ratio 16.08, 50-day/200-day moving averages $58.04/$53.80, and beta 0.05.

Chiba Bank Ltd. (OTCMKTS:CHBAY - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $64.00, but opened at $67.5156. Chiba Bank shares last traded at $67.5156, with a volume of 1,104 shares trading hands.

Chiba Bank Trading Up 5.5%

The company's 50 day moving average price is $58.04 and its 200-day moving average price is $53.80. The company has a market capitalization of $10.47 billion, a PE ratio of 16.08 and a beta of 0.05.

Chiba Bank (OTCMKTS:CHBAY - Get Free Report) last announced its quarterly earnings data on Monday, February 2nd. The company reported $1.14 earnings per share (EPS) 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 analysts' expectations 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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