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

Key Points

• Industrial & Commercial Bank of China hit a 52-week high intraday at $18.72 and last traded at $18.18, with light volume of 1,881 shares.
• The bank beat quarterly expectations, reporting EPS $0.76 versus $0.75 and revenue $27.56B versus $26.53B, with a net margin of 24.61% and ROE of 8.89%.
• ICBC is a state-owned global banking giant with a market cap of $326.3B, a low valuation (P/E 6.59) and low volatility (beta 0.07), while its liquidity and leverage metrics show a current ratio of 0.87 and debt-to-equity of 1.75.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $18.72 and last traded at $18.18, with a volume of 1881 shares trading hands. The stock had previously closed at $18.03.

Industrial & Commercial Bank of China Ltd. Stock Performance

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.75. The company's 50-day simple moving average is $16.82 and its 200-day simple moving average is $16.21. The stock has a market capitalization of $326.29 billion, a price-to-earnings ratio of 6.59 and a beta of 0.07.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report) last announced its quarterly earnings results on Friday, March 27th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $27.56 billion during the quarter, compared to analysts' expectations of $26.53 billion.

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.