Bank of China (OTCMKTS:BACHY) Shares Gap Down – Here’s Why

Bank of China Ltd. (OTCMKTS:BACHY) gapped down prior to trading on Thursday . The stock had previously closed at $15.95, but opened at $15.26. Bank of China shares last traded at $15.5950, with a volume of 11,124 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Bank of China to a “hold” rating in a report on Thursday, April 23rd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Bank of China Stock Performance

The company has a market cap of $197.07 billion, a price-to-earnings ratio of 5.95 and a beta of 0.07. The stock’s fifty day simple moving average is $16.56 and its 200 day simple moving average is $15.45.

About Bank of China

Bank of China (OTCMKTS: BACHY) is a major state-owned commercial bank headquartered in Beijing that provides a broad range of banking and financial services to corporate, institutional and retail clients. Founded in 1912, the bank has grown into one of China’s largest and longest-established banking institutions and is commonly grouped with the nation’s “Big Four” banks. Its core activities include deposit-taking, corporate and retail lending, trade finance, foreign exchange and treasury services, as well as cash management and payment services for domestic and cross-border clients.

In addition to traditional commercial banking, Bank of China offers investment banking and capital markets services, structured finance, asset management and wealth management solutions.