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

Shares of Agri Bank China (OTCMKTS:ACGBY) gapped down prior to trading on Tuesday. The stock had previously closed at $22.24, but opened at $21.1150. Agri Bank China shares last traded at $21.06, with a volume of 9,417 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research initiated coverage on Agri Bank China in a research report on Tuesday, October 27th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Agri Bank China currently has a consensus rating of “Hold”.

Agri Bank China Stock Performance

The company has a fifty day moving average of $20.79 and a two-hundred day moving average of $18.80. The company has a market cap of $294.62 billion, a price-to-earnings ratio of 6.90 and a beta of 0.10. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 0.87.

Agri Bank China (OTCMKTS:ACGBY) last released its quarterly earnings data on Friday, October 30th. The company reported $0.93 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 company had revenue of $30.91 billion during the quarter. Equities research analysts anticipate that Agri Bank China will post 3.30 EPS for the current year.

Agri Bank China Company Profile

Agricultural Bank of China Limited, also known as AgBank, is a major commercial bank headquartered in Beijing, China. Established in 1951, the bank has historically focused on supporting China’s agricultural sector and rural communities while expanding into a full-service financial institution serving individuals, businesses and government-related organizations.

The bank provides a broad range of services, including personal and corporate deposits and loans, payment and settlement services, wealth management, credit cards, investment banking, custody, foreign-exchange services and other financial products.