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

Agri Bank China (OTCMKTS:ACGBY) gapped up before the market opened on Thursday. The stock had previously closed at $20.5650, but opened at $21.3559. Agri Bank China shares last traded at $20.95, with a volume of 16,025 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded shares of Agri Bank China from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Agri Bank China Price Performance

The firm has a market capitalization of $290.91 billion, a PE ratio of 7.19 and a beta of 0.10. The stock has a 50-day moving average price of $19.74 and a 200 day moving average price of $18.73. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.08.

Agri Bank China (OTCMKTS:ACGBY) last announced its earnings results on Friday, August 28th. The company reported $0.73 earnings per share (EPS) for the quarter. Agri Bank China had a return on equity of 9.38% and a net margin of 21.51%.The firm had revenue of $30.09 billion for the quarter, compared to analyst estimates of $29.06 billion.

Agri Bank China Company Profile

Agricultural Bank of China Limited, also known as AgBank, is a state-owned commercial bank headquartered in Beijing. The bank provides banking and financial services to individuals, businesses, government institutions and agricultural customers, with a particular focus on rural communities, farmers and the broader agricultural sector.

Its products and services include personal and corporate deposits, loans, payment and settlement services, wealth management, investment banking, financial markets activities and electronic banking.