Short Interest in Bank of China Limited (OTCMKTS:BACHY) Declines By 37.8%

Bank of China Limited (OTCMKTS:BACHY) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 42,100 shares, a decline of 37.8% from the February 28th total of 67,700 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 85,800 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BACHY. The Goldman Sachs Group upgraded Bank of China from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 9th. Bank of America restated a “neutral” rating on shares of Bank of China in a report on Thursday.

Bank of China Stock Performance

Shares of OTCMKTS BACHY opened at $14.67 on Friday. The stock has a market cap of $172.75 billion, a price-to-earnings ratio of 5.75 and a beta of 0.18. Bank of China has a fifty-two week low of $10.14 and a fifty-two week high of $15.43. The firm’s 50-day simple moving average is $13.87 and its 200 day simple moving average is $12.66.

Bank of China (OTCMKTS:BACHY) last announced its earnings results on Wednesday, March 26th. The bank reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Bank of China had a return on equity of 7.81% and a net margin of 17.35%. The company had revenue of $17.82 billion for the quarter, compared to analysts’ expectations of $130.61 billion.

Bank of China Company Profile

Bank of China Limited, together with its subsidiaries, provides various banking and financial services in Chinese Mainland, Hong Kong, Macao, Taiwan, and internationally. It operates through six segments: Corporate Banking, Personal Banking, Treasury Operations, Investment Banking, Insurance, and Other.