Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Reaches New 12-Month High - Should You Buy?

Key Points

• Stock reached a new 52-week high intraday at $18.75 and last traded at $18.10 on volume of 12,359 shares, with 50‑day and 200‑day moving averages of $17.06 and $16.40 respectively.
• The company reported quarterly EPS of $0.69, missing the $0.73 consensus, while posting a net margin of 24.61% and ROE of 8.89%; sell‑side analysts forecast FY EPS of 3.01.
• Valuation/coverage: market cap is $326.2 billion with a PE of 6.58, and Zacks recently upgraded the stock to a "Hold" with the consensus rating at Hold.

Shares of Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.75 and last traded at $18.10, with a volume of 12359 shares. The stock had previously closed at $18.30.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Industrial & Commercial Bank of China Ltd. to a "hold" rating in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold".

Industrial & Commercial Bank of China Ltd. Trading Up 0.0%

The company has a 50 day moving average of $17.06 and a two-hundred day moving average of $16.40. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $326.20 billion, a PE ratio of 6.58 and a beta of 0.07.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.04). Industrial & Commercial Bank of China Ltd. had a net margin of 24.61% and a return on equity of 8.89%. Sell-side analysts predict that Industrial & Commercial Bank of China Ltd. will post 3.01 EPS for the current 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.

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