Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Sets New 52-Week High - Should You Buy?

Key Points

• 52-week high: Industrial & Commercial Bank of China hit a new 52-week high of $17.90 (last traded $17.83) on Monday with about 6,908 shares changing hands.
• Earnings beat: ICBC reported quarterly EPS of $0.76 versus $0.75 expected and revenue of $27.56 billion versus $26.53 billion expected, with a return on equity of 8.97% and a net margin of 24.61%.
• Valuation and stability: The bank has a market cap of $316.76 billion, a low P/E of 6.39 and a beta of 0.07, while carrying a debt-to-equity ratio of 1.80 and a current ratio of 0.87.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $17.90 and last traded at $17.83, with a volume of 6908 shares trading hands. The stock had previously closed at $17.54.

Industrial & Commercial Bank of China Ltd. Trading Down 0.2%

The firm has a market capitalization of $316.76 billion, a P/E ratio of 6.39 and a beta of 0.07. The stock's 50-day simple moving average is $16.54 and its two-hundred day simple moving average is $15.99. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.87 and a quick ratio of 0.87.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report) last released its earnings results on Friday, March 27th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.01. Industrial & Commercial Bank of China Ltd. had a return on equity of 8.97% and a net margin of 24.61%.The firm had revenue of $27.56 billion during the quarter, compared to analysts' expectations of $26.53 billion.

About Industrial & Commercial Bank of China Ltd.

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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