China Merchants Bank (OTCMKTS:CIHKY) Rating Upgraded to Maintain Zacks Investment Research

Zacks Investment Research has improved the shares of China Merchants Bank (OTCMKTS:CIHKY – Get Rating) from a sell rating to a hold rating in a report released Friday, Zacks.com reports.

According to Zacks, “China Merchants Bank Co., Ltd. provides corporate and personal banking products and services primarily in China. Its services include accepting deposits from the public, granting term loans, settlement, bill discounting, issuing financial bonds, underwriting and trading government bonds. It also provides interbank loans and borrowings, letters of credit and guarantees, collections and payments, insurance agency services, safekeeping services, foreign exchange transactions, international settlements, currency investments, acceptance and discounting of currency notes. In addition, he is involved in treasury activities for his own purposes and on behalf of clients. China Merchants Bank Co., Ltd. is headquartered in Shenzhen, China. “

CIHKY opened at $29.92 on Friday. The company has a debt ratio of 0.54, a current ratio of 0.92 and a quick ratio of 0.86. The company has a 50-day simple moving average of $37.55 and a 200-day simple moving average of $39.87. China Merchants Bank has a fifty-two-week low of $27.74 and a fifty-two-week high of $46.46.

China Merchants Bank (OTCMKTS:CIHKY – Get Rating) released its quarterly results for the last time on Friday, April 22. The company reported earnings per share of $1.13 for the quarter. The company had revenue of $13.44 billion in the quarter. China Merchants Bank posted a net margin of 27.30% and a return on equity of 16.13%. Analysts expect China Merchants Bank to post EPS of 0.33 for the current year.

About China Merchants Bank (Get a rating)

China Merchants Bank Co, Ltd., together with its subsidiaries, provides various banking products and services. It operates through Wholesale Finance Business, Retail Finance Business and Other Business segments. The company offers current, demand, time, call, savings, notice and renminbi accounts. Its lending products include personal commercial real estate, consumer, housing and auto loans; loans to finance studies abroad; loans to micro-enterprises; equipment mortgages; joint surety, special surety and housing mortgage loan; banker’s acceptance, discount, liquid capital and capital loans; and loans for ships.

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