Agri Bank China (OTCMKTS:ACGBY) Shares Gap Up – Still a Buy?

Agri Bank China (OTCMKTS:ACGBY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $17.15, but opened at $17.96. Agri Bank China shares last traded at $17.96, with a volume of 360 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently commented on ACGBY. Citigroup lowered Agri Bank China from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Zacks Research upgraded shares of Agri Bank China to a “hold” rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Agri Bank China presently has a consensus rating of “Hold”.

Agri Bank China Stock Performance

The firm has a market cap of $251.15 billion, a price-to-earnings ratio of 6.45 and a beta of 0.11. The stock has a 50-day moving average of $18.49 and a 200-day moving average of $17.95. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.22 and a current ratio of 1.22.

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.