China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) Short Interest Up 78.7% in August

Key Points

• Short interest surged 78.7% in August to 2,150 shares, though that represents 0.0% of outstanding shares; the days-to-cover ratio is 3.6.
• China CITIC Bank reported quarterly EPS of $0.79 and revenue of $8.19 billion, slightly below analysts’ $8.27 billion estimate. Analysts expect full-year EPS of $3.88.
• Zacks Research upgraded the stock from “hold” to “strong buy,” giving China CITIC Bank a consensus “strong buy” rating from the analysts tracked by MarketBeat.

China CITIC Bank Corporation Limited (OTCMKTS:CHCJY - Get Free Report) saw a large growth in short interest in August. As of August 14th, there was short interest totaling 2,150 shares, a growth of 78.7% from the July 30th total of 1,203 shares. Based on an average daily volume of 601 shares, the days-to-cover ratio is presently 3.6 days. Currently, 0.0% of the shares of the company are sold short.

China CITIC Bank Price Performance

Shares of China CITIC Bank stock opened at $19.60 on Monday. The firm has a market cap of $47.96 billion, a P/E ratio of 5.68 and a beta of 0.31. The firm's 50-day simple moving average is $18.66 and its 200-day simple moving average is $19.36. China CITIC Bank has a twelve month low of $15.92 and a twelve month high of $22.30. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.82 and a current ratio of 0.82.

China CITIC Bank (OTCMKTS:CHCJY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $0.79 earnings per share (EPS) for the quarter. The firm had revenue of $8.19 billion during the quarter, compared to analyst estimates of $8.27 billion. China CITIC Bank had a net margin of 20.81% and a return on equity of 8.54%. As a group, research analysts expect that China CITIC Bank will post 3.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Zacks Research upgraded China CITIC Bank from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, China CITIC Bank currently has a consensus rating of "Strong Buy".

China CITIC Bank Company Profile

China CITIC Bank Co, Ltd., a subsidiary of CITIC Group, is a leading Chinese commercial bank headquartered in Beijing. Established in the late 1980s, the bank was among the first national joint-stock commercial banks approved by the Chinese government. It is quoted on the U.S. OTC Market under the symbol CHCJY.

The bank offers a wide range of financial services, including corporate and institutional banking, retail banking, treasury and financial markets services. Corporate clients can access lending solutions, trade finance, cash management and project financing, while retail customers can choose from deposit accounts, personal loans, credit cards, wealth management and digital banking platforms.

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