Chiba Bank (OTCMKTS:CHBAY) Upgraded by Zacks Research to Hold Rating

Key Points

• Zacks Research upgraded Chiba Bank (OTCMKTS:CHBAY) to a "hold" rating, according to a research note issued Wednesday.
• Chiba Bank reported quarterly EPS of $1.14, beating the $1.07 consensus and posting revenue of $721.38 million versus expectations of $358.53 million, with a return on equity of 7.53% and a net margin of 20.92%.
• The stock trades near its 1‑year high (opened at $68.88), has a market cap of $10.68 billion and a modest P/E of 16.40, with a very low beta (0.05) indicating low volatility.

Chiba Bank (OTCMKTS:CHBAY - Get Free Report) was upgraded by equities research analysts at Zacks Research to a "hold" rating in a research note issued on Wednesday,Zacks.com reports.

Chiba Bank Stock Performance

Shares of CHBAY stock opened at $68.88 on Wednesday. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 16.40 and a beta of 0.05. The stock has a 50-day moving average of $61.81 and a 200-day moving average of $55.39. Chiba Bank has a 1-year low of $62.28 and a 1-year high of $70.75.

Chiba Bank (OTCMKTS:CHBAY - Get Free Report) last issued 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 return on equity of 7.53% and a net margin of 20.92%.The company had revenue of $721.38 million during the quarter, compared to analysts' expectations of $358.53 million. Sell-side analysts forecast that Chiba Bank will post 4.07 earnings per share for the current 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.

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