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

Shares of Agri Bank China (OTCMKTS:ACGBY) gapped up before the market opened on Friday . The stock had previously closed at $18.89, but opened at $19.6323. Agri Bank China shares last traded at $19.3050, with a volume of 2,614 shares traded.

Analyst Ratings Changes

A number of research firms have weighed in on ACGBY. Citigroup downgraded Agri Bank China from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Zacks Research upgraded Agri Bank China to a “hold” rating in a report on Thursday, April 23rd. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Agri Bank China Stock Performance

The firm has a market capitalization of $270.05 billion, a PE ratio of 6.94 and a beta of 0.08. 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 business’s 50 day simple moving average is $18.88 and its two-hundred day simple moving average is $18.02.

Agri Bank China (OTCMKTS:ACGBY) last announced its earnings results on Monday, March 30th. The company reported $0.67 earnings per share for the quarter. The business 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%. Research analysts expect 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.