Agri Bank China (OTCMKTS:ACGBY) Shares Gap Down – Here’s What Happened

Agri Bank China (OTCMKTS:ACGBY)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $17.75, but opened at $16.95. Agri Bank China shares last traded at $17.1350, with a volume of 9,209 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ACGBY shares. Citigroup cut shares of Agri Bank China from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Zacks Research raised shares of Agri Bank China to a “hold” rating in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Agri Bank China Trading Down 0.7%

The firm’s 50-day moving average is $18.86 and its 200 day moving average is $18.00. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $238.74 billion, a price-to-earnings ratio of 6.13 and a beta of 0.08.

Agri Bank China (OTCMKTS:ACGBY) last announced its quarterly earnings results on Monday, March 30th. The company reported $0.67 earnings per share (EPS) for the quarter. The firm had revenue of $24.59 billion during the quarter. Agri Bank China had a net margin of 21.45% and a return on equity of 9.51%. On average, equities analysts predict that Agri Bank China will post 3.02 earnings per share for the current fiscal year.

About Agri Bank China

Agricultural Bank of China (trading OTC as ACGBY) is a major state-owned commercial bank headquartered in Beijing that provides a broad range of banking and financial services. As one of China’s largest banks, it offers services to corporate, institutional and retail clients, with a particular historical focus on serving agricultural and rural customers alongside urban and corporate markets. The bank operates a large domestic branch network and maintains an international presence through branches and representative offices.

The bank’s product and service mix includes corporate lending, trade finance, project finance and cash management for businesses, together with deposit, mortgage, consumer lending and wealth-management products for individual customers.