Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research upgraded Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) to a "hold" rating.
• The bank topped quarterly estimates with $0.76 EPS vs. $0.75 expected and revenue of $27.56 billion, reporting a net margin of 24.61% and ROE of 8.89%.
• Shares traded near $18.44 with a market cap of $328.6 billion and a PE of 6.63, a 12‑month range of $13.24–$18.75, and analysts forecast ~3.01 EPS for the fiscal year.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report) was upgraded by Zacks Research to a "hold" rating in a research report issued on Thursday,Zacks.com reports.

Industrial & Commercial Bank of China Ltd. Stock Performance

Shares of IDCBY stock opened at $18.44 on Thursday. The company's fifty day simple moving average is $16.98 and its 200-day simple moving average is $16.31. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.75. The firm has a market cap of $328.61 billion, a PE ratio of 6.63 and a beta of 0.07. Industrial & Commercial Bank of China Ltd. has a 12 month low of $13.24 and a 12 month high of $18.75.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report) last announced its quarterly earnings data on Friday, March 27th. The company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.01. Industrial & Commercial Bank of China Ltd. had a net margin of 24.61% and a return on equity of 8.89%. The business had revenue of $27.56 billion for the quarter, compared to analyst estimates of $26.53 billion. Equities research analysts expect that Industrial & Commercial Bank of China Ltd. will post 3.01 EPS for the current fiscal year.

Industrial & Commercial Bank of China Ltd. Company Profile

Industrial & Commercial Bank of China Ltd. (ICBC) is a state-owned commercial bank headquartered in Beijing. Founded in 1984, ICBC has grown into one of the world's largest banking institutions by total assets, operating a diversified financial services business that serves corporate, institutional and retail clients. The bank provides deposit-taking and lending, trade and transaction banking, treasury and markets services, as well as a range of payment and settlement solutions.

ICBC's product and service offerings span corporate banking, retail banking, and investment banking, including corporate loans, supply‑chain and trade finance, cash management, credit and debit cards, mortgages and consumer finance, wealth-management products, custody and asset-management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.