China Merchants Bank Co., Ltd. (OTCMKTS:CIHKY – Get Rating) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 3,500 shares, a growth of 84.2% from the August 15th total of 1,900 shares. Based on an average daily trading volume, of 112,200 shares, the short-interest ratio is presently 0.0 days.
Wall Street Analysts Forecast Growth
Separately, The Goldman Sachs Group upgraded shares of China Merchants Bank from a "neutral" rating to a "buy" rating in a research note on Wednesday, July 20th.
Get China Merchants Bank alerts:China Merchants Bank Trading Up 3.9 %
CIHKY stock traded up $0.97 on Friday, hitting $25.97. The company had a trading volume of 42,859 shares, compared to its average volume of 50,396. The stock's 50-day simple moving average is $26.29 and its 200 day simple moving average is $31.06. China Merchants Bank has a 12-month low of $24.08 and a 12-month high of $45.05.
China Merchants Bank (OTCMKTS:CIHKY – Get Rating) last issued its quarterly earnings data on Friday, August 19th. The company reported $0.94 EPS for the quarter. China Merchants Bank had a return on equity of 16.10% and a net margin of 27.83%. The company had revenue of $13.05 billion during the quarter.China Merchants Bank Cuts Dividend
The firm also recently disclosed a dividend, which was paid on Thursday, August 25th. Investors of record on Thursday, July 7th were issued a $0.9777 dividend. This represents a dividend yield of 2.96%. The ex-dividend date of this dividend was Wednesday, July 6th. China Merchants Bank's payout ratio is 25.39%.
About China Merchants Bank
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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 loan products include personal commercial real estate, consumption, housing, and car loans; loans to finance for studying abroad; micro-business loans; mortgage loans for equipment; joint guarantee, special guarantee, and housing mortgage loan; bank acceptance, discount, liquid capital, and fixed asset loans; and loans for vessels.
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