China Construction Bank (OTCMKTS:CICHY) Reaches New 52-Week High - Still a Buy?

Key Points

• New 52-week high: China Construction Bank shares reached a 52-week high of $22.6780 and last traded at $22.2450 on volume of 11,681 shares (previous close $21.74).
• Quarterly beat: The bank reported EPS of $0.85 versus $0.84 expected and revenue of $26.13B versus $24.24B, with a net margin of 25.79% and ROE of 9.73%.
• Analyst view and valuation: The stock carries an average rating of "Hold" after a Zacks upgrade, with a market cap of $292.6B and a low P/E of 6.18.

Shares of China Construction Bank Corp. (OTCMKTS:CICHY - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $22.6780 and last traded at $22.2450, with a volume of 11681 shares trading hands. The stock had previously closed at $21.74.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of China Construction Bank to a "hold" rating in a research note on Monday, December 22nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold".

China Construction Bank Price Performance

The company's 50-day moving average is $20.75 and its two-hundred day moving average is $20.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market cap of $292.60 billion, a P/E ratio of 6.18 and a beta of 0.08.

China Construction Bank (OTCMKTS:CICHY - Get Free Report) last posted its earnings results on Friday, March 27th. The company reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.01. China Construction Bank had a net margin of 25.79% and a return on equity of 9.73%. The firm had revenue of $26.13 billion during the quarter, compared to analysts' expectations of $24.24 billion.

About China Construction Bank

China Construction Bank Corporation OTCMKTS: CICHY is one of the largest commercial banks in China, headquartered in Beijing. The bank provides a broad range of banking and financial services to corporate, institutional and individual customers. It is widely recognized as one of the major state-owned banks in China and has played a significant role in financing infrastructure, real estate and corporate development across the country.

CCB's core business activities include corporate banking, personal banking and treasury operations.

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