Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Shares Gap Up - Here's Why

Key Points

• Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) shares gapped up from $14.65 to $15.47 before settling at $14.84, with a trading volume of 55,634 shares.
• The company announced an increase in its dividend to $0.3506, yielding 417.0%, up from the previous dividend of $0.30, with a payout ratio of 26.39%.
• ICBC has a market capitalization of $264.95 billion, a P/E ratio of 5.53, and a low beta of 0.21, indicating stable stock performance.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $14.65, but opened at $15.47. Industrial & Commercial Bank of China Ltd. shares last traded at $14.84, with a volume of 55,634 shares.

Industrial & Commercial Bank of China Ltd. Stock Up 0.8%

The firm has a 50 day simple moving average of $15.37 and a 200-day simple moving average of $14.69. The stock has a market cap of $263.15 billion, a P/E ratio of 5.49 and a beta of 0.21. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.89.

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY - Get Free Report) last released its earnings results on Friday, August 29th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.04). The business had revenue of $27.44 billion for the quarter, compared to the consensus estimate of $196.94 billion. Industrial & Commercial Bank of China Ltd. had a return on equity of 9.11% and a net margin of 23.66%.

Industrial & Commercial Bank of China Ltd. Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, July 4th were issued a dividend of $0.3506 per share. This represents a dividend yield of 417.0%. The ex-dividend date was Thursday, July 3rd. This is a positive change from Industrial & Commercial Bank of China Ltd.'s previous dividend of $0.30. Industrial & Commercial Bank of China Ltd.'s dividend payout ratio (DPR) is currently 26.39%.

Industrial & Commercial Bank of China Ltd. Company Profile

Industrial and Commercial Bank of China Limited, together with its subsidiaries, provides banking products and services in the People's Republic of China and internationally. The company operates through Corporate Banking, Personal Banking, and Treasury Operations segments. The Corporate Banking segment offers financial products and services to corporations, government agencies, and financial institutions.