Bank of China (OTCMKTS:BACHY) Reaches New 1-Year High – Here’s What Happened

Bank of China Limited (OTCMKTS:BACHY)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.61 and last traded at $13.59, with a volume of 17306 shares changing hands. The stock had previously closed at $13.25.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded shares of Bank of China from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 9th.

Bank of China Trading Up 2.6 %

The firm has a market cap of $160.08 billion, a price-to-earnings ratio of 5.33 and a beta of 0.17. The stock’s 50 day moving average is $12.57 and its 200 day moving average is $11.89.

Bank of China Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, March 6th. Stockholders of record on Tuesday, January 14th will be given a $0.3231 dividend. The ex-dividend date is Tuesday, January 14th. Bank of China’s payout ratio is 25.49%.

About Bank of China

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.